News ID: 218070
Published: 0252 GMT July 10, 2018

Iran steel exports to reach 15m tons by 2025

Iran steel exports to reach 15m tons by 2025

Iran's annual steel exports are expected to reach 15 million tons by 2025, said the minister of industry, mine and trade.

Mohammad Shariatmadari, who was speaking at the inauguration ceremony of a steel plant in the central Iranian city of Isfahan on Tuesday, pointed to Iran's 2025 Vision Plan which seeks to turn the Islamic Republic into a developed country by 2025, as well as "the first economic, scientific and technological power of the region".

The minister said the country is presently exporting nine million tons of steel annually.

Shariatmadari added that the Islamic Republic's steel output will reach 55 million tons by 2025 with the implementation of development projects. He put the current annual steel production capacity at 34 million tons.

He noted that the annual growth in Iran's steel production is 22 percent which is "higher than the global average".

Iran's steel industry supports over 2,800 small and big industrial units in which modern technology has been indigenized.

World Steel Association (WSA) says Iran's crude steel production was 10.142 million tons during the first five months of 2018, which shows a 24.3-percent growth from 8.162 million tons in the same period last year.

This is while world's steel production during the five months rose by just 4.3 percent.

Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) also reported that Iran produced 21.884 million tons of crude steel and 19.776 million tons of steel products in the year to March 2018. This shows 19 percent and 9 percent rise, respectively, year on year.

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