Iran's raw steel production increases

Business Materials 18 February 2021 14:55 (UTC +04:00)
Iran's raw steel production increases

BAKU, Azerbaijan, Feb. 18

By Elnur Baghishov – Trend:

Iran's raw steel production has increased by 77 percent over the past eight years (the current Iranian government has been in power since August 2013), Minister of Industry, Mine and Trade Alireza Razm Hosseini said, Trend reports citing the IRINN.

He made the remark in an event dedicated to the launch of four industrial and mining facilities in Iran today (February 18).

The minister emphasized that furthermore, the production of steel products in Iran also increased by 83 percent during the reporting period.

Razm Hosseini added that Iran is considered not only one of the most important steel producers in the world and but also one of the main exporters, at present.

“About 7.5 million tons will be added to Iran’s steel pellet production capacity with the launch of two facilities in this area. Thus, Iran's steel pellet production capacity will increase to 61.2 million tons. This will result in Iran's steel production reaching 38 million tons,” he said.

The minister noted that Iran can grow 5.2 million tons of citrus fruits a year. About 2.5 million tons of it belong to the northern provinces of Iran. There are currently 17 export terminals for the export of these products.

According to Razm Hosseini, the facilities, which are built at the expense of 400 trillion rials (about $9.52 billion) worth of funds spent by the Ministry of Industry, Mine and Trade of Iran are ready for put into operation.

As reported, Iran produced 23.7 million tons of raw steel and 20.9 million tons of steel products during the 10 months of the current Iranian year (from March 20, 2020, through January 20, 2021).

On Feb. 18, 4 industrial and mining facilities have been launched in 3 provinces of Iran. A total of 85.2 trillion rials (about $2.02 billion) was spent on these facilities and 1,360 people were employed.