Outotec awarded several projects in Iran

Outotec has been awarded multiple orders, worth a total of EUR 265 million, for technology deliveries to National Iranian Copper Industries Company's (NICICO) copper and molybdenum projects in Iran. Approximately EUR 58 million of these contracts will be booked in Outotec's third quarter order intake with the revenues recognized gradually during 2012-2016. The orders support Outotec's long term growth and profitability targets and do not affect the company's financial guidance for 2012.

Outotec will deliver technology and services to NICICO's Khatoon Abad copper smelter, Miduk copper concentrator expansion, Nowchun copper and molybdenum concentrator and Sarcheshmeh copper concentrator expansion. The scope of delivery includes e.g. engineering, operating licenses for OutotecR Flash Smelting technology, the supervision of detail engineering, supply of proprietary equipment, installation supervision and training services.

Outotec makes thorough examinations and works closely with the concerned authorities to ensure that its activities and technology deliveries are compliant with the restrictive measures against Iran. In anticipation of possible future changes in the regulatory framework, the orders will be booked in Outotec's order backlog gradually during 2012-2016 according to each year's overall progress of the particular project.

"Our technologies are widely used in the Iranian copper concentrators and smelters as well as in iron ore pelletizing plants as Outotec has delivered sustainable technologies to Iran since 1970s. The proven reliability and environmental performance made our solutions a preferred choice also for these new projects", says Outotec's CEO Pertti Korhonen.

Source: REUTERS