Economy, Business And Markets

Steel Deal Signed in Rome

Steel Deal Signed in RomeSteel Deal Signed in Rome

Hormozgan Steel Company and the multinational SMS Group signed a deal in Rome on Wednesday to raise the Iranian company’s slab production capacity from the current 1.5 million tons to 3 million tons a year, announced the managing director of HSCO.

Masoud Haratian added that the development project will be financed by the Italian side.

The official was part of the 120-strong business delegation headed by President Hassan Rouhani during his visit to the Italian capital. HSCO is one of Iran’s largest slab producers and most advanced steel factories in the country, reported.