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Home Economy Economy News Iran’s crude steel production grows 22% annually

Iran’s crude steel production grows 22% annually

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Iran’s crude steel production grows 22% annually

TEHRAN- Iran’s annual crude steel production increased 22 percent in 2017, while the world’s production improved by six percent in the said time, Iranian Industry Minister Mohammad Shariatmadari announced on Tuesday.

Iran produces 34 million tons of steel per year and is aimed at producing 55 million tons of the product by 2025,” he said, “To hit the target, Iran is in need of attracting €8 billion of investments, and also making €6. on of investments in railway sector and €4 million of investments in power sector.
The country exports 9 million tons of crude steel per year and plans to improve the figure up to 15 million tons by 2025,” IRNA quoted him as saying.
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.

 

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