No More Retained Losses for Esfahan Steel Company
Mining News Pro - The company will have profit distribution next year.

According to Mining News Pro - Mansour Yazdizadeh, CEO of Esfahan Steel Company (ESC) said that this year, the company would produce 3.5 million tons of cast iron.

“Different sectors of production line has been renovated during the past years and it is in a good technological and technical condition”, he added.

Yazdizadeh insisted that “pci” is one of the important projects of ESC. “Coal dust will replace coke and this includes 30 percent of productions’ total costs. This project would have positive economic effects on our company.”
CEO of ESC said that sustainable raw material supply is the main problem and added: “We made good efforts for supplying raw materials.”

“This year, we will not have profit distribution because of retained losses. Although, next year profit distribution is going to happen”, He said about the retained earnings of the company.

Eslami Begdeli, Secretary-General of Iranian Institutional Investors Association insisted that developing and increasing the capacity of big industries like Esfahan Steel is very important for countries economy. There are very good development opportunities in Esfahan Steel, which requires investment and could have very good returns.

Share the news

In Picture

Mining News Center