Construction work on Esfahan Steel Company's third blast furnace, which has a designed size of 2,000 cubic meters and a capacity of 1.4 million metric tons per year, has already been 85 percent completed and commissioning is expected to take place in the near future.
With a total investment worth $114 million (IRR 800 billion), most of the equipment is expected to be supplied locally, with the remainder coming from foreign sources such as South Korea, Germany and Luxemburg.
South Korean steelmaker POSCO is the main foreign contractor involved in the construction of Esfahan's third blast furnace.