Esfahan Steel Co. Eyes Foreign Investment

Esfahan Steel Company, Iran’s third largest steel maker, is seeking to attract foreign buyers as it plans to boost its production, a report said.

The company aims to boost production to 3.2 million metric tons in the current Iranian calendar year, which ends in March 2017, from 2.4 million tons a year earlier, said Mojtaba Fereydooni, an investment manager at Esfahan Steel, Bloomberg reported.

Iran is the biggest steel producer in the Middle East after Turkey, according to World Steel Association data.

Output rose to 1.5 million tons in April from 1.3 million tons at the end of last year before anti-Tehran sanctions were lifted in January, the data show.

Esfahan Steel company’s plans to attract foreign investment come against the backdrop of growing international interest in ties with Iran since Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) finalized a comprehensive nuclear deal on July 14, 2015 and started implementing it on January 16.

(Source: Tasnim, under Creative Commons licence)

No comments yet.

Leave a Reply