Azerbaijan, Baku, July.30/ Trend R.Zamanov
Some 951,478 tons of steel products were produced in Iran's Khuzestan Steel Company in the first three months of the current year, which started March 21.
The figure shows 9.8 percent increase compared to the first quarter of previous year, the ISNA News Agency reported.
The company plans to produce 3.5 million ton of steel products in the current year.
Khuzestan Steel Company's total sales in the mentioned period stood at 15 trillion rials (some $454.5 million based on the price of USD at the free market). The Company's net profit was around 5.96 rials (some $180.6 million).
Khuzestan Steel Company's managing director said in March that the company plans to invests 7 trillion rials ($571 million based on the official rate of USD) and 571 million euros in new steel projects by the end of the Fifth Five-Year Economic Development Plan (March 2016).
The company plans to boost its steel production complex's annual output capacity up to 5 million tons by 2016, the IRNA News Agency quoted Abdolmajid Sharifi as saying.
The Managing Director of Isfahan's Steel Company (Zob Ahan) Ardeshir Sa'd Mohammadi said last month that Iran's steel output will reach 30 million tons by the end of the Iranian calendar year of 1394 (March 20, 2016).
Tehran plans to raise its steel production up to 55 million tons by 2026, the Mehr News Agency quoted Sa'd Mohammadi as saying.
Iran is reportedly the biggest steel producer in the Middle East and North Africa and the country's main steel mills are located in Isfahan and Khuzestan provinces.
Major raw steel producers of Iran are Mobarakeh Steel Mill, with approximately 47 percent of the market share, Khuzestan Steel Company with about 23 percent of the market share, the Isfahan Iron Smelting Complex with a market share of 20 percent, and Iran National Steel Industries Group with approximately 10 percent of the market share.
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