Outotec to deliver iron ore pelletizing technology to Gol-E-Gohar, Iran

OUTOTEC OYJ  PRESS RELEASE   APRIL 18, 2012  at 12.00 PM

Outotec to deliver iron ore pelletizing technology to Gol-E-Gohar, Iran

Outotec has been selected by Gol-E-Gohar Mining & Industrial Co. to design and provide technology for an iron ore pelletizing plant located in the Kerman province of Iran. The plant's annual capacity is approximately five million tonnes iron ore pellets.

Outotec's scope of delivery includes technology for a traveling grate pelletizing plant, engineering, key process equipment and advisory services. A local contractor will be responsible for civil works and local supply.

The value of equivalent deliveries for comparable plant sizes is approximately EUR 80-85 million. Approximately EUR 25 million will be booked in Outotec's order intake during the second quarter of 2012. Prior to finalizing the deal, Outotec has applied for all the relevant export approvals from export control authorities and has received all of the necessary permits to ensure that the envisaged technology delivery does not collide with the existing embargo regulations. In anticipation of possible future changes in the regulatory framework, the order value will be booked in Outotec's order backlog gradually during 2012-2015 according to each year's overall progress of the project.

"Outotec's pelletizing technology was selected due to its ability to process a wide range of iron ores, including the magnetites found in Gol-E-Gohar's deposit," notes Pertti Korhonen, Outotec CEO.

For further information please contact:

OUTOTEC

Pekka Erkkilä, President - Ferrous Solutions business area
Tel. +358 20 529 2143, +49 6171 9693 100

Eila Paatela, Director - Corporate Communications
Tel. +358 20 529 2004, mobile +358 400 817198

Emails: firstname.lastname@outotec.com

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