India's Essar Steel on 24 September signed an agreement with Ahwaz Pipe Mill of Iran to supply 100,000 tonnes of API grade hot-rolled coils. Managing director of Ahwaz, Soleimani Ashtiani, signed the agreement during a recent visit to India. Delivery of the coils will begin January 2004. Essar has supplied the Ahwaz plant for four years, and will supply 70,000 tonnes in 2003.
Essar Steel is exploring expansion possibilities in the Gulf. At present the company sells 20 per cent of its exports to the region.
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