Iran's Bonab Steel Co. to export 200,000 tons of steel products this year

Business Materials 6 July 2019 12:32 (UTC +04:00)

Tehran, Iran, July 6


Bonab Steel Complex is expected to export more than 200,000 tons of steel product this year, the managing director of Bonab Steel Complex said, Trend reports.

"Despite the economic sanctions and fluctuations in the steel market in last Iranian year (ended on March 21, 2019), through the major structural reforms in finance, the Shahin Furnace Unit of Bonab Complex has re-opened after a year,” CEO of the Bonab Steel Complex Seyyed Abo-Torab Fazel said.

"The export of steel products by the company is ongoing in 2019, and we expect to raise the figures to more than 200,000 tons,” he added.

“In last Iranian year, profitability reduced due to the operating losses, which were significant,” said Fazel. He noted that with the addition of a new induction furnace, about 130,000 tons of induction melting capacity is added.

Bonab Steel Complex is established in 29 hectares area in Bonab’s industrial city and it has three hot-rolling production lines to produce bars as well as melting and casting units for producing steel billets. The annual production capacity of this factory is 1.2 million tons of constructional ribbed steel bars and 500,000 tons of steel billet.