Economy
Sat Sep 26, 2020 6:59
Iran’s Steel Production Up 8% in 5 Months
TEHRAN (FNA)- Caretaker of Iran’s Ministry of Industry, Mine and Trade Jafar Sarqeini announced 8% growth in the country’s production of steel in the first five months of the current Iranian year (March 20 to August 21).

“We have had a 6.3% growth in production of petrochemicals, 42.5% in home appliances, 50% in aluminum, 8% in steel, 15% in cement and 18.5 in vehicles in the first five months of the current year,” Sarqeini said on Saturday.

He added that the capacity to produce steel chain has increased from 123mln tons 7 years ago to 230mln tons this year.

Sarqeini said that Iran ranks 10th in the world in production of steel, adding that the country has outpaced France and Italy in this field in the past few years.

Earlier reports this month said that the total exports of Iran's largest steel mills companies hit 1.7 million tons in the first five months of current Iranian year.

The performance of large steel mills companies reveals that Iran exported 507,302 tons in August and Iran's steel production is expected to reach nearly 30 million tons, more than one million tons of which will be exported.

The Iranian annual steel production is planned to amount to 45 million tons by the year1400 (March 2021-March 2022).

Iran aims to become the world’s sixth largest steel producer as per the 20-Year Vision Plan, which targets to expand annual production capacity to 55 million tons and 20-25 million tons of exports per year by 2025.

The country’s annual steel export capacity currently hovers around $4 billion.

 

 

 

 

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