TEHRAN (Dsipatches) - Iranian Deputy Minister of Industry, Mine and Trade Khodadad Qaribpour has said that the country’s steel production firms and industries have experienced a 10 percent growth compared with the global average in the first 6 months of the current year.
"Steel production is known as the most brilliant industrial sector of Iran and the country’s steel production capacity is currently 42 million tons and this year up to 32 million tons of steel will be produced domestically,” Qaribpour said.
He said that Iran’s steel production in the first 6 months of 2020 showed 10% higher than the global average.
Qaribpour added that Iran has an annual production of 10 million tons of concentrate and 18 million tons of pellets in its current program.
Total exports of Iran’s largest steel mills companies hit 1.7 million tons in the first five months of current Iranian year (March 20- August 21).
The performance of large steel mills companies reveals that Iran exported 507,302 tons in August and Iran’s steel production is expected to reach nearly 30 million tons, more than one million tons of which will be exported.
The Iranian annual steel production is planned to amount to 45 million tons by the year1400 (March 2021-March 2022).
Iran aims to become the world’s sixth largest steel producer as per the 20-Year Vision Plan, which targets to expand annual production capacity to 55 million tons and 20-25 million tons of exports per year by 2025.
The country’s annual steel export capacity currently hovers around $4 billion.