Azerbaijan, Baku, Jun.3/ Trend F.Milad/
The Iranian administration has approved allocation of 2.2 billion euros to 9 steel projects nationwide, the Fars News Agency reported.
The budget will be spent to purchase necessary goods and import services, the report says.
The Industry, Mine and Trade Ministry has issued permission for producing up to 90 million tons of steel products in the current calendar year, Deputy Minister Vajihollah Jafari said.
On April 13, IRNA news agency quoted Jafari as saying that since 2004 the administration has been significantly supporting investments in the steel sector.
Jafari said on April 9 that crude steel output is projected to reach 55 million tons by 2025.
Crude steel output hit 12.7 million tons last year, he said, adding that Iran also 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.