MNA reported that the completion of Iran’s steel projects by the end of the current Iranian calendar year beginning March 20th 2008 will give a 50% rise in its steel production capacity.

The report quoted Mr Ali Akbar Mehrabian, minister of industries and mines of Iran as saying that it plans to create a headquarters in the ministry in a bid to support the steel industry and help reach the target of 15 million tonnes of annual steel production.

He also remarked that the industry and mines had respectively 10.8% and 17.7% increases in the last Iranian year adding that the ministry seeks to optimize production and to create a more competitive environment.