Iran Signs Deal to Expand Magnesium Hydroxide Production

Yousef Kakavandi, CEO of an Iranian knowledge-based company, said the company was established in 2021 by researchers from Sharif University of Technology. He identified magnesium carbonate and magnesium hydroxide as the company's strategic products, which are now being manufactured.

The company's main products include magnesium oxide, magnesium hydroxide and high-purity magnesium carbonate. These compounds are used in the pharmaceutical and dietary supplement industries, as well as in certain advanced chemical applications, including catalyst and battery manufacturing.

Kakavandi emphasized that the investment initiative aims to produce high-quality raw materials and reduce the country's reliance on imports of these compounds.

He said the company has now reached a stage where it can manufacture products and meet the needs of certain industries. In this regard, it has signed a memorandum of understanding with another company active in the extraction, processing and production of organic, mineral and semi-finished materials, as well as pharmaceutical intermediates and active ingredients, cosmetics and personal care products, food additives, food products and supplements, and feed for livestock, poultry and aquaculture.

According to Kakavandi, the agreement was signed following the delivery and sale of several batches of products. It aims to establish long-term cooperation in supplying magnesium (Mg) compounds required by the pharmaceutical and dietary supplement industries, while also evaluating the technical, quality and production capabilities of Magnesium Sanat Sharif.

Referring to joint plans to expand production capacity, the company’s CEO said the two parties had agreed to explore investment opportunities and cooperation in four key areas: improving product quality, increasing production capacity, establishing new production lines and developing new products.

“Our approach is to move toward strategic, long-term partnerships with an economic and technological perspective. We hope this memorandum of understanding, and the conversion of the proposed capacities into operational contracts, will help strengthen domestic manufacturing, particularly of magnesium compounds required by the country's pharmaceutical and dietary supplement industries,” Kakavandi said.