ESCO Targets 40% Hike in Exports

Esfahan Steel Company is planning to boost the current fiscal year’s (March 2017-18) exports by 40% to about 1 million tons, the company’s chairman, Ahmad Sadeqi, has been quoted as saying by IRNA. The company was Iran’s fourth largest steel exporter last year, as it shipped 640,521 tons of beams, rebars, coils and cast iron overseas, registering an 8% drop compared to the preceding year, according to statistics released by Iranian Mines and Mining Industries Development and Renovation Organization. Founded in 1971, ESCO is Iran’s third biggest steelmaker and largest long steel producer. It is directly controlled by the Ministry of Industries, Mining and Trade.