Iran’s cement industry in 750 million euro-debt to country’s banks

Azerbaijan, Baku, Sept. 28 / Trend, N. Umid/

Iran's cement industry owes about 750 million euros to country's bank system, secretary of Iran's Cement Producers Association, Abdolreza Sheykhan said, Iranian Donya-e-eqtesad newspaper reported.

He went on to note that, paying additional money due to difference between old and new rate of the foreign currency impose losses to cement producers.

Some producers have received bank credits based on old official rate of 9,000 rials per each USD during last years, but presently they have to refund the money in new rate of 25,000 rials per each US dollar, Sheykhan added.

Iran's cement output in the first five months of the current solar year (started on March 21) stood at 31.475 million tons.

The figure shows a three percent increase compared to the same period of the previous year.

Around 24.351 million tons of the country's total cement output in the mentioned five month period was distributed in domestic markets.

The IRNA News Agency reported on June 23, that Iran currently exports cement to 24 countries including Iraq, Azerbaijan, Turkmenistan, Afghanistan, Russia, Kazakhstan, Kuwait, Pakistan, Qatar, Turkey, the United Arab Emirates, Georgia, Oman, India and China.

Seven countries out of the 24 accounted for 97 percent of Iran's total cement exports.

Iraq with 63 percent, Azerbaijan with four percent and Turkmenistan with seven percent were the main importers of Iranian cement.

Iran's cement and clinker exports stood at over 13.648 million tons during last solar year.

Iran produced 75 million tons of cement in the previous year. The country's cement production capacity stands at 80 million tons.

Iran with a total production of 65 million tons ranked as the world's third largest cement producer in 2012.

On September 14, IRIB quoted Sheikhan as saying Iran is the fourth leading cement producer in the world and the top producer in the Middle East.