BAKU, Azerbaijan, May 15. Iran's Arfa Iron and Steel Company generated revenue of about 16.2 trillion rials (about $385 million) in the first month of the current Iranian year (from March 20 through April 20, 2024), Trend reports.
Arfa Iron & Steel Company's revenue in the first month is considered a big figure. This is due to the company's production increase.
Arfa Iron and Steel produced 92,244 tons of steel ingots in the first month. This is considered a record monthly production for the company. The company's steel ingot production averaged 3,687 tons per day in the first month.
The company produced 107,539 tons of sponge iron in Month 1. The company's sponge iron production averaged 3,701 tons per day in the first month.
To note, Arfa Iron and Steel Company is located in Yazd province in central Iran. This company has the potential to produce 800,000 tons of steel and 1.2 million iron ore concentrates per year.
Iran's steel production potential is about 40 million tons per year. Iran plans to increase its steel production capacity to 55 million tons by 2025.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel
