Iran Daily quoted Mr Mohammad Masoud Samieinejad CEO of Isfahan's Mobarakeh Steel Company as saying that with the help of Iranian experts, Mobarakeh Steel Company's development plans for achieving a 7 million tonne production capacity have had a good physical progress.

Referring to the purchase of Hormuzgan Steel Company by Mobarakeh Steel Company, the CEO regarded it as one of the best examples of privatization. He stressed that Hormuzgan Steel Company belongs to all the people of Hormuzgan province and over 60,000 stockholders of the company.

After a visit to the production lines of Hormuzgan Steel Company, Mr Samieinejad pointed to plans for boosting its production capacity to 3 million tonnes in three years, adding that the capacity would rise from 1.5 to 2 million tonnes in the near future. He noted that contracts are being signed for implementing the development projects.

Mr Samieinejad highlighted the company's role in generating jobs, saying that currently 1,200 individuals mostly from Hormuzgan province are employed in the company, not to mention some 1,000 people working for contractors. He added that "Over 2,000 people will be further employed with the launch of the development projects,"

He hailed the cooperation between the staff of Mobarakeh Steel Company and Hormuzgan Steel Company and said the experience of the former staff, along with the youthful energy of the latter, has given rise to achievements.

Mr Samieinejad went on to say that the people of Hormuzgan province will be able to buy Hormuzgan Steel Company's shares in the stock market.

(Sourced from www.irandaily.com)