Azerbaijan, Baku, Aug.3/ Trend F.Milad/
The private sector in Iran plans to establish a consortium to build seven large steel plants in the country, the vice chairman of the association of Iranian steel producers stated.
Hamidreza Taherizadeh told the Fars News Agency that if the Central Bank provides investors with more facilities, the private sector will be encouraged to participate in economic plans.
The cabinet has recently approved €2.1 billion to expedite the implementation of the seven steel projects.
Taherizadeh said on July 31 that despite global economic sanctions, the country's steel output increased by 5 million tons during the past two years, reaching 17 million tons.
Iran produced over five million tons of crude steel during the first four months of this year, which began on March 20, showing a 7.1 percent growth year on year.
Output hit 4.68 million tons in the same period last year, the IRNA News Agency reported on Saturday.
Iranian Deputy Industry Minister Vajihollah Jafari said on April 9 that the country's annual crude steel output is projected to reach 55 million tons by 2025.
"The output stood at 12.7 million tons last year," he said, adding that Iran also had produced some 16 million tons of steel products.
Iran will become one of the world's main steel exporters by March 2016, Industry, Mine and Trade Minister Mehdi Ghazanfari said in May 2011.
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