Production Of Isfahan Steel Mill Up By 52%

Isfahan, Oct 22, IRNA - Managing Director of Isfahan Steel Mill Company Ardeshir Saad Mohammadi said on Tuesday that products of the industrial complex increased by 52% in the first half of the current year in comparison with the same period last year. He told reporters that Isfahan Steel Mill Company produced 932 thousand tons of crude steel in the first half of the past year which was increased to 1.412 million tons this year. However, he further remarked, the average world production of steel stands at five million tons, adding that with the implementation of projects the company can reach that average by the year 1400 (2021-2022). He pointed to the 4,070 billion rials net profit of the company last year and added that operational profit of the company in the current year stood at 10 thousand billion rials which is the biggest profit in the history of the company and the highest growth rate among industries of the company. Saad Mohammadi said that the company has not only left behind bankruptcy but has reached positive accumulation which was obtained through declined prices and sale of steel products at one third of the prices for the past year. Referring to the importance of rail development in the country, the official said with the establishment of rail factory and manufacture of rail, railroads will be further developed and hard currency will remain within the country. Meanwhile, Mobarakeh Steel Company produced 3.1 million tons of crude steel in the six months ending September 22. MSC officials say the firm plans to produce over 6.1 million tons of crude steel by March 2015. The company's crude steel output stood at 5.4 million tons last year. Mobarakeh is Iran's largest steelmaker and one of the largest industrial complexes operating in the country./end