Tavazon project to increase Esfahan Steel's capacity

Mr.Ahmad Ali Haratinik, the chief of Iranian Mines & Mining Industries Development and Renovation Organization (IMIDRO), has announced that with the completion of the Tavazon project the capacity of Iranian steelmaker Esfahan Steel will increase by one million metric tons during the current Iranian year 1386 (21.03.2007-20.03.2008). The main target of the Tavazon project is to balance the output of Esfahan Steel's different units. Due to the current situation of imbalance between the company's different production units, Esfahan Steel experienced some financial problems during the last Iranian year 1385 (ended 20.03.2007). Construction work on the Tavazon project is being carried out at the present time by different companies, including South Korea's POSCO E&C. In addition, Mr. Haratinik stated that IMIDRO is also researching another development plan which, when combined with the Tavazon project, will raise up Esfahan Steel's production capacity from the current 2.5 million metric tons a year to five million metric tons.