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Head of the Executive Board of IMIDRO: 70,000 bil Rials Paid for Development of Steel Industry by the Iranian 9th Government
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As the 3rd blast furnace of Esfahan Steel Company will be put into operation, a new era of the productive activities of the company begins and Esfahan Steel Co. will reach to its real place in steel industry of the country.
According to the reporter of “Mine and Development”, Engineer Ahmad Ali Harati Nik, Deputy Minister of Industries and Mines and Head of Executive Board of IMIDRO said in his visit to the projects of Tavazon Plan and production line of Esfahan Iron Melting:”At present the 3rd blast furnace of ESCO is at loading stage and is being finalized without any problem.”
“What will reach ESCO to its real place in steel industry is the 5mil ton development plan of this company which will be realized through construction of the 4th high furnace of the company.”, he added.
Engineer Harati Nik expressed his hope that Esfahan Steel Company be able to construct the 4th blast furnace through cooperation of the local contractors and consultants and using the capabilities of local experts and using their experiences in the construction of the 3rd furnace.
Engineer Harati Nik announced that the total value of the developmental steel plans totaled 70,000bil Rials during the ninth government.
Engineer Harati Nik said on the entrance of Esfahan Steel Company to the stock market: “In order to enter this company to the stock market, first the future of the Steel Retirement Fund should be clear. If this fund to be abalienated to the Social Security Organization or to the Iranian Retirement Fund, then the entrance of the Esfahan Steel Company to the stock market will be facilitated.”
In his visit Engineer Harati Nik met Engineer Babaiee, Managing Director and some of the deputies and managers of Esfahan Iron Melting Company. More over in his visit to Chaharmahl-o-Bakhtiari Steel Plan he announced two offers for financing 8 steel plans. Ahmad Ali Harati Nik said: “Considering the problems of financing the 8 steel plans, IMIDRO sponsored this difficult task finally and has performed that. At present there are some suggestions for financing them among which are attracting the private sector investors and at the same time using the Currency Fund and winning the permission of issuing bonds.”
Criticizing those who believe the provincial plans have no economic justification, said: “How does the imposing foreigner plan have economic justification but the steel plan with 1mil ton capacity has no economic justification?”
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