BAKU, Azerbaijan, Dec. 14
By Elnur Baghishov – Trend:
It was decided that the capital of the Iran’s Khouzestan Steel Company will be increased by 162 percent, Trend reports citing Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).
A meeting of shareholders of Khouzestan Steel Company was held in this regard.
According to the report, the capital of Iran's Khouzestan Steel Company will be increased from 19 trillion rials (about $453 million) to 50 trillion rials (about $1.19 billion).
"The IMIDRO pursues its policy of increasing the capital of the companies operating under it," the report said.
Thus, before, the capital of National Iranian Copper Industries Company (NICICO) was increased by 100 trillion rials (about $2.38 billion), the report said.
At present, the market value of Iran's NICICO amounts to 3.22 quadrillion rials (about $76.6 billion).