Jan 31, 2016, 8:50 PM
News Code: 81943517
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900 m euro steel contracts signed with Italy

Isfahan, Jan 31, IRNA – Managing Director of Isfahan Mobarakeh Steel Company Bahram Sobhani said that during the visit of President Hassan Rouhani to Europe, three development projects with the value of 900 million euro were signed with Italian firms.

He told reporters that development projects in affiliated companies of the Mobarakeh Steel Group were planned and that progressing trend of JCPOA pushed the group to start negotiations with foreign sides one year earlier.
Sobhani said that although finance resources are provided by foreign sides, domestic contractors will be involved in the projects.
He also announced about 66 percent of the group's production was exported to European countries in the past 10 months and that in steel export arena, China is its main rival.
Sobhani stressed that in the past 10 months of the current year also 27 percent of its production had been exported to the Middle Eastern countries.
He said that the steel group is the largest industrial consumer of electricity and gas in the country.
The group is consuming 29 million cubic liters of water, 6.4 million megawatts of electricity and 9.2 billion cubic meters of gas annually.
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