Date: 26 January 2017 , 00:00
News ID: 918
NEWS SERVICE: IRON and STEEL

Development of Iran’s steel industry not to stop

At the event, which was hosted by the Handelsblatt, a leading German business newspaper, the MSC chief presented a comprehensive report on the position of Iran’s steel industry in the region and around the world and touched on the future development plans of the industry, those of MSC in particular, before fielding the questions of some participants.
Development of Iran’s steel industry not to stop

In response to a question on the wariness of foreign firms to make it to the Iranian market, he said over the past decade Iran has signed contracts worth billions of dollars with non-European companies, a fact which indicates that the Europeans deprived themselves of the opportunity to tap into the potential of the Iranian market.

 


 
In the past before the imposition of sanctions, European firms used to supply products to and launch most of Iran’s steel mills, but with the sanctions came a shift in demand from Europe to other suppliers and thus the European firms lost their market share here, the managing director of the steel giant (Dr. Bahram, Sobhani) said.
 
And in response to a question about the likely snap-back of sanctions, the MSC (Mobarakeh Steel Company) chief said that even in the absence of sanctions agreements contain opt-out and force majeure clauses which are designed to kick in under special circumstances. “Naturally, the Joint Comprehensive Plan of Action [the nuclear deal Iran struck with world powers in 2015] contains similar clauses. But one needs to look at the full half of the glass. As long as parties to the deal continue to honor their commitments, the reinstatement of sanction would be unlikely.”

source: MSC
Steel Handelsblatt European firms MSC Dr. Bahram Sobhani
Top News
Sibanye-Stillwater liable for damages to Appian for .2 billion scrapped mine deals
Sibanye-Stillwater liable for damages to Appian for .2 billion scrapped mine deals
Twelve Days ago
Mobarakeh Steel Co. record holder in quantitative and qualitative production
Mobarakeh Steel Co. record holder in quantitative and qualitative production
Six last month
"Sustainability and innovation in production and development, excellence in culture", the orientation of Mobarakeh Steel Co. to realize the motto of 2024
Six last month
Gianpietro Benedetti, Chairman of Danieli Group, passes away
Gianpietro Benedetti, Chairman of Danieli Group, passes away
Five last month
The entrepreneur Gianpietro Benedetti has died, he was 81 years old
The entrepreneur Gianpietro Benedetti has died, he was 81 years old
Five last month
The President visited the Sungun Copper Complex
The President visited the Sungun Copper Complex
Two last year
Most Like