Iran’s Esfahan Steel Seeks Buyers Amid Plan to Boost Production - Bloomberg:
"Esfahan Steel Co., Iran’s third-largest maker of the metal, is seeking buyers amid plans to boost production as the nation rebuilds after years of international sanctions that hurt its economy.
Companies in South Korea and Luxembourg are interested in taking a stake, Masoud Gholampour, research and and marketing manager at Novin Investment Bank, said in an interview in Tehran. Novin is advising the government in the sale. Iran and the Steel Pensioners’ Fund for retired Iranian steel workers want to sell a 73 percent stake.
Esfahan Steel aims to boost production to 3.2 million metric tons in the year ended March 2017 from 2.4 million tons a year earlier, according to Mojtaba Fereydoni, an investment manager at Esfahan Steel in Esfahan in central Iran. Output had declined 4 percent a year earlier as economic growth slowed because of low oil prices, he said.
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