BAKU, Azerbaijan, March 10. The capital of Iran's Mobarakeh Steel Company has been raised by 39 percent, the company's CEO Saeed Zarandi told reporters, Trend reports.
According to him, on March 9, at an extraordinary meeting of the company's shareholders, it was decided to increase the company's capital to 1.5 quadrillion rials (approximately $2.61 billion).
Zarandi pointed out that before that, the company's capital was 1.07 quadrillion rials (about $1.86 billion).
The official noted that Mobarakeh Steel Company aims to generate $15 billion in revenue per year and be among the 20 largest companies in the world.
Iranian Mobarakeh Steel Company was established in 1981. This company is located in Iran's Isfahan Province. The production potential of this company is 10.3 million tons per year, and the company has a share of more than 30 percent in the country's crude steel production.
Iran's steel production potential is about 40 million tons per year.
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