TEHRAN - The managing director of Mobarakeh Steel Company (MSC) Mohammad-Yasser Tayyebnia says the leading steelmaker utilizes its full capacity to nuetralize the imposed sanctions on the Islamic Republic.

Tayyebnia made the remarks on Sunday at the closing ceremony of the First National Hope Media Cup in Tehran, noting that Mobarakeh Steel Company, Iran’s biggest steelmaker, seeks to use domestic instruments in the process of steelmaking.

The MSC boasts of being the largest producer of direct-reduced iron in the world, he further noted.

"The company is the quality producer of over 50 percent of Iran’s steel in all major markets including automotive, construction, household appliances, and packaging."

He went on to say that while the Islamic Republic is under sanctions, the company is tasked with defeating the cruel measures of the enemies by operating at 100% capacity.

The World Steel Association (WSA) announced in its latest report that steel production in Iran during the first quarter of 2024 has registered a 16.3 percent growth compared to the same period last year.

Located in southwestern Isfahan, Mobarakeh Steel Company is the biggest steel producer not only in Iran but also in the Middle East and North Africa region.

The state-owned company is located 65 km southwest of the city of Isfahan, near the city of Mobarakeh. It is one of the largest industrial complexes operating in Iran. MSC was commissioned after the Islamic Revolution in 1979 and initiated operations in 1993. It underwent major revamping in 2000.

The First National Hope Media Cup which started on Saturday at the Comprehensive University of Islamic Revolution in the capital city will wrap up today.

The national festival served as a platform where reporters and photojournalists covered the speeches delivered by high-ranking officials and experts on various topics within 36 hours in the country.

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