Economy, Business And Markets

Steel Cooperation with Germany

Steel Cooperation with GermanySteel Cooperation with Germany

The secretary of Iran’s Steel Producers Associations has called for increasing cooperation with Germany, especially in alloy steel production, Eghtesad News reported. Recalling the successful cooperation between Mobarakeh Steel Company and German steel equipment maker SMS Siemag, Khalifeh Soltan said: “German steelmakers have proved to be reliable industrial partners for Iran. However, lack of finance is a key production issue in Iran and German companies should be encouraged to invest and produce in Iran.” He also noted that quality steel alloy production should be the focus of joint cooperation with Germany as Iran is already able to produce the steel required in construction. Iran’s rich reserves of energy and iron ore make it an attractive investment destination for European steelmakers. Therefore, making investment and bringing modern machinery and equipment into the projects should be the main condition for cooperation with Germany, he added. Last week, a 60-member German delegation headed by the country’s Vice Chancellor and Minister of Economy and Energy Sigmar Gabriel arrived in Tehran for a three-day visit at the invitation of Oil Minister Bijan Namdar Zanganeh. Representatives from major German companies, including large steelmakers Mannesmanne and Krupp, accompanied the delegation.