Iran's Isfahan Steel Complex and Saudi Al-Hadeed firm signed an agreement on Tuesday. The agreement stipulates for the two companies to exchange technical information, hold vocational seminars, said the managing director of the Saudi concern, Mohammad Saleh Aljabar.
According to IRNA, he said that Saudi Arabia steel production capacity is about 5 million tons annually. "In the near future by the cooperation with Italian companies the figure will be increased to 5.5 million tons per year," Aljabar noted.
The private sector steel production capacity in Iran is put at 10 million tons annually. Iranian exports of steel is set to reach 1.8 million tons before the end of the current year (March 20, 2005) which could mean a 20 percent rise in production compared to the previous year. (menareport.com)
© 2004 Mena Report (www.menareport.com )