Iran's crude steel production grows

Business Materials 27 June 2020 20:06 (UTC +04:00)

BAKU, Azerbaijan, June 27

By Elnur Baghishov – Trend:

Iran’s crude steel production increased by 8 percent in the last Iranian year (from March 21, 2019 to March 20, 2020) compared to the preceding Iranian year (from March 21, 2018 to March 21, 2019), Deputy minister of Industry, Mine and Trade of Iran Mohammad Reza Fayyaz said at press conference, Trend reports citing IRNA.

The deputy minister noted that last year, Iran produced 25 million tons of crude steel.

Fayyaz added that the copper cathode production increased by 2 percent in the last Iranian year. Thus, 252,000 tons of copper cathode was produced.

Fayyaz said that there was an increase of 14 percent in the production of household appliances. Thus, 277,000 unit household appliances were produced.

The deputy minister stressed that the loans worth 340 trillion rials (about $8.09 billion) were allocated to increase the production of 22,000 industrial enterprises in the last Iranian year.

"Last year, 6,600 licenses worth 675 billion rials (about $16 million) were issued for the operation of industrial enterprises and 11,000 people were employed," he said.

About 28,000 licenses were issued in the last year for the establishment of industrial enterprises worth 3.68 trillion rials (about $87.7 million), according to Fayyaz.