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IRAN: JOINT VENTURE CONSTRUCTION PLANS FOR PROPOSED $300,000,000 STEEL PRODUCTION CAPACITY...

PROJECT OVERVIEW

The local NATIONAL IRANIAN STEEL CO. (NISCO) recently signed an agreement with FORTIS BANK of Belgium to organize a banking syndicate in order to raise $300,000,000 for its planned steel production capacity expansion project. NISCO currently produces from a steel complex located at Mobarakeh adjacent Isfahan. And, the company is currently planning to undertake a major expansion project at that site.

In so doing, NISCO has now awarded a plant construction contract to an Argentinean/Italian joint venture. The partners in the planned upgrade

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