Major steel producers’ output rises 17% in a quarter on year

July 17, 2018 - 9:44

TEHRAN- Iran’s major steel producers produced 4.849 million tons of crude steel during the first quarter of current Iranian calendar year (March 21-June 21), with 17-percent growth from the figure of the same period of time in the past year, IRNA reported on Monday based on the data released by Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

“Iran produces 34 million tons of steel per year and is aimed at producing 55 million tons of the product by 2025,” Industry Minister Mohammad Shariatmadari said last week.

To hit the target, Iran is in need of attracting €8 billion of investments, the minister added.

He also announced that the country exports 9 million tons of crude steel per year and plans to improve the figure up to 15 million tons by 2025.

As Iranian Deputy Industry, Mining and Trade Minister Jafar Sarqini announced in mid-June, several crude steel production projects have been specified in the country over the past five years that have 40-percent progress at the moment.

The official said that Iran’s crude steel output will reach 40 million tons per year once the mentioned projects are complete, Shata news agency reported.


Leave a Comment

7 + 5 =