Economy, Business And Markets

ESCO Signs Export Contract With Iraqi Firm

ESCO Signs Export Contract With Iraqi FirmESCO Signs Export Contract With Iraqi Firm

Esfahan Steel Company has signed a draft contract with Iraq’s General Company for Trading of Construction Materials, owned by the Iraqi Ministry of Trade for exporting iron products. According to the managing director of the Iraqi company, Adnan Jassim al-Sharifi, the contract entails the import of 8,000 tons of Schliemann iron (iron reduced without fusion) from ESCO to Iraq, IRNA cited the Iraqi media as reporting. The official noted that the contract is expected to be finalized by January 10. Isfahan-based ESCO (locally known as Zob Ahan-e Esfahan) was founded in 1971 using Russian technology and is currently the largest long steel producer in Iran. Affiliated to the Ministry of Industries, Mining and Trade, it is Iran’s third largest steel producer.

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