Iran's Esfarayen Industrial Complex to increase exports

Business Materials 20 April 2021 17:26 (UTC +04:00)
Iran's Esfarayen Industrial Complex to increase exports

BAKU, Azerbaijan, Apr. 20

By Elnur Baghishov – Trend:

The Esfarayen Industrial Complex (EICO) in the North Khorasan Province (northeastern Iran) plans to increase the value of exports to 25-30 million euro in the current Iranian year (from March 21, 2021 through March 20, 2022), the Managing Director of the complex Ali Molk said, Trend reports citing the Shata news agency.

The director said that the complex is planned to produce 92,000 tons of steel alloys worth 15 trillion rials (about $357 million) in this year.

He added that the complex exported products worth 17 million euro during last Iranian year (from March 20, 2020 through March 20, 2021).

Molk noted that the complex produced 80,000 tons of steel alloys last Iranian year. This is an increase of 45 percent compared to the preceding Iranian year (from March 21, 2019 through March 19, 2020). So, about 56,000 tons of steel alloys had been produced within preceding Iranian year.

According to the director, the value of complex’s steel alloy production amounted to 12 trillion rials (about $286 million) last Iranian year. This is about 2.5 times more than preceding Iranian year. While in the preceding Iranian year, the value steel alloy production was about 4.5 trillion rials (about $107 million).

Reportedly, the annual steel alloy production capacity of Esfarayen Industrial Complex (EICO) was 80,000 tons. This capacity has reached 120,000 tons annually with the launch of a new unit of the complex on April 1. A total of 94 million euro and 1.3 trillion rials (about $30.9 million) was spent on the new unit.