Iran eyes 6 million tons of steel to export

Business Materials 21 December 2016 15:36 (UTC +04:00)
Baku, Azerbaijan, Dec. 21

By Fatih Karimov – Trend:

Iran’s annual steel export is expected to rich 6 million tons during the current Iranian fiscal year (to end on March 2017), Abdolmajid Sharifi, managing director of the National Iranian Steel Company (NISCO), said.

He forecasted that the Islamic Republic’s steel output also will reach 18 million tons by March 2017, Mehr news agency reported Dec. 21.

Iran’s steel production capacity stands at 28.8 million tons per year at the moment, Sharifi said, adding that the country also has capacity to produce 3.7 million tons of cast iron, 24 million tons of sponge iron, 32 million tons of iron ore pellets per year.

Iran needs to materialize its planed output of 55 million tons by 2025, he said.

Sharifi further said that Iran is planed to export 15 million tons of steel by 2025.

He invited foreign investors to launch negotiations with the NISCO and IMIDRO (Iranian Mines and Mining Industries Development and Renovation Organization) to participate in Iran’s steel industry projects.

Iran exported about six million tons of steel ingots and products over the first eight months of the current fiscal year (started March 20, 2016).