Fakoor Sanat Tehran Engineering (FSTZ) Adds a 160 Million Euro Addendum to Its Golgohar Steelmaking Plant Contract, Lifting the Ceiling to 1.53 Billion Euros
Sahmino Newsroom | 12 November 2026 | 2 days ago
Fakoor Sanat Tehran Engineering (symbol FSTZ) disclosed in a group A filing on codal on 11 November 2026 (20 Aban 1405) an addendum to its contract for "building a three million tonne steelmaking and hot rolling plant" for Golgohar Iron and Steel Development Company. The addendum date and the effective date of the changes are 11 November 2026 (20 Aban 1405).
According to the company, the total contract value before the addendum was 1,374,369,628 euros; the addendum added 160,367,641 euros to the contract ceiling, lifting the total to 1,534,737,269 euros, an increase of about 11.7 percent over the previous contract value.
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The filing was published at 20:24 on Wednesday, 11 November (20 Aban), after trading ended; the first session in which the market can price it is Saturday, 14 November (23 Aban).
Since this story was published, FSTZ rose 2.9 percent, to 8,410 rial.
Over the same days, Tehran Stock Exchange Index fell 0.9 percent, to 8,354,036.
- FSTZ
- +2.9%
- Tehran Stock Exchange Index
- −0.9%
Prices to the close of 14 November
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