KSC Profits Triple

Khouzestan Steel Company’s profits in the last fiscal year (March 2016-17) surged over 300% to 6.7 trillion rials ($176.31 million) compared to the year before, the company’s manager, Modarres Khiabani, said. The sharp rise in profits came as KSC become Iran’s largest steel exporter last year by shipping 1.9 million tons of billet and slab, overtaking Iran’s largest steelmaker Mobarakeh Steel Company, SENA reported. KSC shipped about 52% of its 3.6-million-ton total output for the year. The company now exports to 13 countries, some 50% of which are shipped to the Middle East and North Africa region, 40% to the Far East and the remaining 10% to Americas.