Domestic Economy

Iran Steel Output to Hit 31m Tons

Iran aims to become the world’s sixth largest steel producer as per the 20-Year Vision Plan, which targets annual production capacity expansion to 55 million tons and 20-25 million tons of exports per year by 2025
Iran Steel Output to Hit 31m Tons
Iran Steel Output to Hit 31m Tons

Iran's nominal steel production capacity is set to increase to 42 million tons per annum by the end of the current fiscal year on March 20, 2020, the chairman of Iranian Mines and Mining Industries Development and Renovation Organization said.
The boost in capacity, Khodadad Gharibpour added, will also lead to a jump in the country’s total output to a record high of 31 million tons per annum by March 2021, IRNA reported.
The country’s current steel production capacity stands at 37.5 million tons per year. It produced 27.5 million tons of steel during the last fiscal year (ended March 2020).
Gharibpour referred to the vital role of steel sector in the job market and about 200,000 people are directly involved in the steel industry.


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