Stainless Steel to be produced by ESC for first time in ME
Stainless steel pilot production will be implemented at Esfahan Steel Complex (ESC) within next two months for the first time ever in <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Iran and the Middle East, executive director of the complex Masud Ebkaa stated on Monday.
“Annual market production of 50,000 tons is projected for next year which would cover for domestic consumption and exportation. Besides, stainless steel is a profitable business and the product is very suitable for humid regions as well as usage in decorative products,” he said.
“Due to downturn in steel export business back in 1997, the ESC’s exports stood only at 500,000 dollars while the 2003-2004 periods experienced a jump of 150 times more at $77m,” he elaborated.
It is anticipated that stainless steel production and other projects to set ESC’s exports at 260,000 tons per annum, the director stipulated.