• Mon / 3 August 2020 / 15:37
  • Category: Economy
  • News Code: 99051309734
  • Journalist : 71477

Iran’s steel production surpasses 30 million tons

Iran’s steel production surpasses 30 million tons

Tehran (ISNA) - Deputy Minister of Industry, Mine and Trade and the head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Khodadad Gharibpour announced that during the current year, steel industry for the first time has increased the steel production volume by more than 30 million tons.

He noted that steel accounts for 45 percent of the total export share of mining and mineral industries.

Khodadad Gharibpour said that steel industry can yield $4 billion worth of foreign currency for the country annually, the rate of which accounts for 40 to 45 percent exports share in mining and mineral industrial sector.

Presently, Islamic Republic of Iran is ranked 10th largest steel producer in the world, he added.

Some 27.2 million tons of steel were produced last year (ended March 20, 2020), he said, adding, “Of total 27.2 million tons of steel produced in the country last year, over 10 million tons of which was exported to target markets.”

It is expected that the country would attain at least 15 percent growth capacity building in steel industry, he added.

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