Iran to boost steel production capacity
Tehran Times Economic Desk

TEHRAN – Eight new steel producing units will come on stream by 2011 in Iran which would add at least 6.4 million tons to the country’s annual production capacity.

Ten trillion rials (around $1 billion) worth of bonds will be issued in two stages to expedite the implementation of the projects, the Mehr News Agency reported.

These projects are currently underway in the underdeveloped regions of the country and have created nearly 100,000 direct and indirect jobs.

In addition, these projects have resulted in industrial decentralization, development of underprivileged regions, increase in GNP and promotion of industrial infrastructure.

Among the 20 largest steel producers of the world only Iran, China and India have not been affected by the global economic crisis and Iran ranks first in terms of growth.

The Islamic Republic of Iran Broadcasting reported that according to statistics released by the World Steel Association the meltdown has caused steel production in 17 countries to be reduced.

In the first ten months of 2009 steel production in Iran has risen from 8.16 million tons to 9.22 million, an 11 percent growth.

Meanwhile, steel production in the world has decreased 13 percent during this period.

This increase in Iran amid the global economic crisis is proof of the managerial success of the administration in general and the industry ministry in particular

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