Iran’s 2025 Vision Outlines 55 Million Tonnes of Steel Production
Iranian media reported that Iran plans to produce 55 million tonnes of steel annually in 2025 Outlook. Iran’s Deputy Ministry of Industry, Mine and Trade Mr Vajihollah Jafari said “According to the latest studies, 39.4 million and 37.18 million tons of steel ingot and sponge iron were produced by the end of the last Iranian calendar year in 1399, ended 20 March 2021, respectively.”
Me Jafari pointed to a 25-Year Memorandum of Understanding inked with China and positive achievements that can bring about for Iranian mining and mineral industry and stated that development of steel industries with the participation of Chinese investors as joint venture will empower the country to export more of its products to target markets coupled with creation of new investment opportunities in this field.
Iranian Mines and Mining Industries Development and Renovation Organization CEO said that about €4.439 billion worth of foreign currency is needed for realizing the objective of producing 55 million tonnes of steel in the country in a way that a considerable portion of this investment amount has been provided up to the present time.