Iran's Esfahan Steel company plans to boost production capacity

Azerbaijan, Baku, June 3/Trend M. Moezzi The Mobarakeh Steel Company of Esfahan plans to more than double its steel production capacity by early 2014. The company's Deputy Director of Development, Bahman Masoudi said Mobarakeh will need more than $3 billion in investments to take production capacity from the current 5.4 million tons to 11.9 million tons, the Iranian Students' News Agency (ISNA) reports. Mobarakeh Steel claims 45 percent of Iran's steel production and exports its goods to 32 countries. It employs 300,000 people both directly and indirectly.