Baku, Azerbaijan, March 10
By Khalid Kazimov - Trend:
In the current Iranian fiscal year (which started on Mar. 21) 1.225 million metric tons of Iran 's Mobarakeh Steel Company products were exported abroad with a value growth of 38 percent.
The company's Public Relations Department announced that the export was worth $640 million, IRNA news agency reported March 10.
The company's Deputy Director in Economic and Financial Affairs Amir Hossein Naderi said that in the first 11 months of the current Iranian fiscal year, the export had a 44 percent growth in weight.
He added that despite numerous problems in the country's economy, the company managed to produce and sell its products and make the benefit it had expected in its plans.
Naderi stated that in the first 9 months of the current Iranian year, the company objectified 78 percent of the predicted profit by realizing 19,720 billion rials (27,930 rials making USD1) out of the predicted 25,377 billion rials.
He noted that the company had predicted its net profit for the fiscal year ending in March 20, 2014 at 22,653 billion rials with a capital of 50,000 billion rials and as 453 rials for each share.
The official added that the total production weight was 5.003 million metric tons, consisting of 3.518 million metric tons of hot rolling, 1.19 million metric tons of cold rolling, 240 thousand metric tons of coated sheet, and 50 thousand metric tons other products in the first 10 months of the current Iranian fiscal year.
Mobarakeh Steel Company is the largest steel maker of MENA (Middle East & Northern Africa) region.
The Islamic republic produced 16.331 million metric tons of crude steel in 2014.
Iran's crude steel production reached 15.421 million metric tons in 2013, which was 6.6 percent more than its preceding year.
Iran was the world's 15th biggest producer of steel in 2013.
the country plans to increase its annual steel output to 55 million metric tons by the end of the Fifth Five-Year Development Plan (2015).