BAKU, Azerbaijan, July 9. The net income of Iran’s Arfa Iron and Steel Company increased by 170 percent, during the first three months of the current Iranian year (March 21 through June 21, 2023), compared to the same period in the last year, Trend reports.
In 3 months, the company's net income was 24.2 trillion rials (about $576 million).
Meanwhile, the total revenues of Arfa Iron and Steel Company for the reporting period amounted to approximately 51.2 trillion rials (about $1.22 billion). This is 72 percent more than in the same period last Iranian year.
Overall, Arfa Iron and Steel Company sold about 235,000 tons of steel ingots for 3 months. This shows a 16 percent increase compared to the same period in the last year.
Iran’s Arfa Iron and Steel Company is located in Yazd Province (central Iran). The company has the capacity to produce 800,000 tons of steel and 1.2 million tons of iron ore concentrate per year.
Reportedly, Iran's annual steel production capacity is around 40 million tons. Iran plans to increase the figure to 55 million tons by 2025.
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