Aug 27, 2019, 11:51 PM
Journalist ID: 2382
News Code: 83454399
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Khorasan steel exports up by 120 percent

Mashad, Aug 27, IRNA - Managing Director of Khorasan Steel Complex Hossein Ahmadi Soleimani underscored that despite international sanctions, in the first five months of this current Iranian year (started March 21, 2019), the complex had $50 million exports, up 120 percent compared to the same period last year.

Soleimani told reporters on Tuesday that the Khorasan Steel Complex has grown by 20%, 15% and 10% and 80% in producing the rolling, steel making, sponge and pellet, respectively.

This complex last year exported 170,900 tons of goods and ranked sixty-four in terms of sales volume among the top 100 companies in Iran.

The official said that the complex has the seventh highest growth rate of production and in this regard, 200 long-haul wagons and a water tank of 160,000 cubic meters have been exploited to export products to ports.

Over 10% of Khorasan Razavi province taxes are paid by the complex and so far the total investment in this complex has been over one billion dollars.

Soleimani went on to say that Khorasan Steel has the second highest rate of return in the stock market and has 1,350 staff of which 85% are in production line and directly and indirectly employs 5,400.

Given that the steel industry is one of the targets of international sanctions, strict supervision of financial transactions to avoid falling into the trap of financial transfers and supply of concentrates is one of the most important challenges of Khorasan steel complex.

Neyshabur, a city of 45,000 people, is located 127 kilometers west of Mashad.

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