German company ready to invest in Iranian steel projects

Business Materials 5 December 2013 10:51 (UTC +04:00)

Baku, Azerbaijan, Dec. 5

By Umid Niayesh- Trend:

The German SMS Siemag company is ready for investment in Iranian steel projects, president and CEO of SMS Siemag, Burkhard Dahmen said, Tasnim news agency reported on Dec. 4.

Dahmen made the remarks during a meeting with head of the Iranian Mines & Mining Industries Development and Renovation Organization (IMIDRO), Mahdi Karbasian in Tehran.

Dahmen underlined that the EU policy towards boosting relations with Iran is a new opportunity which should not be lost.

During the meeting two sides agreed that SMS Siemag to involve in joint venture with other international steel companies in Iranian steel projects.

SMS Siemag has earlier participated in some steel projects in Iran including the Hormozgan and Mobarakeh steel plants.

The public relations office of IMIDRO said on November 20 that over 9.174 million tons of steel ingots were produced in Iran during the first seven months of the current calendar year, which started on March 21.

The figure shows 9 per cent increase compared to the same period of the previous year.

Iran's steel products output surpassed 9.735 million tons in the first seven months of the current year.

The World Steel Association said in its latest press release that Iran produced 1.364 million tons of crude steel in September 2013.

The figure shows over 10.7 per cent increase compared to the same month of the previous year.

The country's total output in the first three quarters of 2013 amounted to 11.318 million tons.

Iran's crude steel production reached 14.89 million tons in the previous Iranian calendar year, which ended on March 20.

Iran plans to increase its annual steel output to 55 million tons by the end of the Fifth Five-Year Development Plan (2015).