TEHRAN – Two Isfahan-based steel complexes, Mobarakeh and Saba, plan to increase the nation’s production capacity by 2.7 million tons every year over the next four years, Mobarakeh Steel Complex (MSC) managing director Mohammad Rajaii announced here on Sunday.

The Fourth Cultural and Socioeconomic Development Plan (2005-2010) envisages steel production to climb by 10 million tons at an estimated cost of $1 billion over the period to meet the country’s growing demand, Rajaii stated.

MSC’s share of the output is projected to be two million tons per year and Saba will account for the remainder, he said.

Iran’s annual steel requirement stands at 16 million tons, while domestic production currently satisfies only 65 percent of the demand.