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Official: Iranian Private Sector to Build 7 Steel Plants

Hamidreza Taherizadeh told the Fars News Agency that if the Central Bank provides investors with more facilities, the private sector will be encouraged to participate in economic plans. The cabinet has recently approved EUR 2,1 billion to expedite the implementation of the 7 steel projects. Taherizadeh said that despite global economic sanctions, the country’s steel output increased by 5 Mt during the past two years, reaching 17 Mt. Iran produced over 5 Mtf crude steel during the first four months of this year, which began on March 20, showing a 7,1 % growth year on year. Output hit 4,68 Mt in the same period last year. The Iranian Deputy Industry Minister Vajihollah Jafari said that the country’s annual crude steel output is projected to reach 55 Mt by 2025. “The output stood at 12,7 Mt last year,“ he said, adding that Iran also had produced some 16 Mt 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.(8/2012)

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