Iran’s steel production grows 22 pct


Tehran (ISNA) – Iranian Minister of Industry, Mine and Trade announced that Iran’s annual steel production increased 22 percent in the current Iranian fiscal year (started March 21, 2018).

“Iran produces 34 million tons of steel per year and is aimed at producing 55 million tons of the product by 2025. To hit the target, Iran is in need of attracting €8 billion of investments, and also making €6.5 billion of investments in railway sector and €4 million of investments in power sector,” Iranian Minister of Industry, Mine and Trade Mohammad Shariatmadari said.

He put the annual export volume of steel at 9 million tons, adding that the per capita steel consumption volume in the country stands at 230kg, the rate of which should increase by 400kg.

“By implementing steelmaking projects, it is predicted that Iran’s steel export volume in 2025 vision will hit 15 million tons/annum.”

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