"We have defined an investment of Rials 40 trillion (about $3.86 billion) for development projects at Mobarakeh Steel up to the end of the Fifth Socio-Economic Development plan [March 2011-March 2016], Mohammad Masoud Samienejad, managing director of Mobarakeh Steel, has stated.
Mr. Samienejad added,"Mobarakeh will produce 5.5 million metric tons of crude steel in 1390 [March 21, 2011-March 20, 2012] and 7.2 million metric tons of crude steel for 1391 [March 21, 2012-March 20, 2013], while Mobarakeh will raise its production to 12 million mt per year by the end of the Fifth Socio-Economic Development plan.
He went on to point out, "We expect to reach an capacity of 20 million metric tons in Iran by the end of the current Iranian year [March 20], when three privately-owned steel plants including Bonab Steel with one million mt capacity, and Natanz Steel and Ardestan Steel each with 0.5 million mt of annual crude steel capacity, will come on stream."