Minister: Iran to become self-sufficient in steel sector

Iran Materials 4 September 2012 16:50 (UTC +04:00)

Azerbaijan, Baku, Sep.4/ Trend F.Milad/

Iran will no longer need to import steel products next year once the underway steel production projects come on stream, Industry, Mine, and Trade Minister Mehdi Ghazanfari said.

A number of steel projects, with the total output of 12 million tons, are being implemented, he said, the IRNA news agency reported.

Iran produced over 6.25 million tons of crude steel during the first five months of this Iranian year, which began on March 20, showing an 8.8 percent growth year on year, the Mehr news agency reported on Monday.

Some 7.2 million tons of steel products were also manufactured in the five-month period, almost equal to the previous year's total output, according to the report.

Deputy Industry Minister Vajihollah Jafari said on April 9 that the country's annual crude steel output is projected to reach 55 million tons by 2025.

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.

He added that the country's steel output increased by 5 million tons during the past two years, reaching 17 million tons.