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Iranian ‘Azerbaijan’ Steel Company increases production

Business Materials 7 December 2023 12:45 (UTC +04:00)
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, December 7. Iran’s ‘Azerbaijan’ Steel Company, located in the northwest of the country, has increased its steel production by 8.2 percent in the first eight months of the current Iranian year (March 21 through November 21, 2023), compared to the same period last year, Executive Director of the company Mikayil Azimi said, Trend reports.

Azimi said that the company produced 259,000 tons of steel products in the eight-month period, while the production was around 240,000 tons in the same period of the preceding year.

He added that the company’s sales value reached 21 trillion rials (about $500 million) in the eight-month period, which is 61.5 percent higher than the 13 trillion rials (about $310 million) in the same period of the previous year.

The director emphasized that the company is striving to maintain the production growth trend until the end of the current Iranian year (March 19, 2024).

The ‘Azerbaijan’ Steel Company, which is situated in East Azerbaijan Province, started its operation in 2000. The company has an annual production capacity of 550,000 tons of steel products.

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