Italian steel company Marcegaglia and Iranian steel producer Mobarakeh Steel Company have signed a memorandum of understanding (MoU) for supply of around 1.5 million mt of slab and coil from Iran, according to Italian media sources.
Meanwhile, the two companies also signed agreements for various projects. Accordingly, Marcegaglia and Mobarakeh Steel Company will construct a plant for the production of stainless products for sectors such as the oil and gas industry, the chemical industry, and the automotive and construction sectors. The parties will also start studies on a joint venture for distribution of steel products for various markets.
Marcegaglia and Mobarakeh Steel started their collaboration first in 2014 with a turnover of €175 million, and they aim to increase this turnover to €450 million in the current year.