Economy, Business And Markets

Steelmaking Targets Require Rail Transport Development

Steelmaking Targets Require Rail Transport DevelopmentSteelmaking Targets Require Rail Transport Development

Iran’s railroad transportation capacity needs to increase fourfold to 88 million tons in about nine years to help fulfill the steelmaking target set in the 20-Year Vision Plan (2005-25), said an executive of Iranian Mines and Mining Industries Development and Renovation Organization–Iran’s biggest holding company in the mining sector. “The national railroad’s development is deeply entwined with the expansion of the mining sector, as minerals made up more than 60% of the 35.6 million-ton cargo transit during the past fiscal year (March 2015-16),” Abbas Ranjbar was also quoted as saying by IMIDRO’s news portal. IMIDRO projections show the railroad system needs to sustain an 11% growth rate in transportation capacity annually for the next decade. Iran aims to become the world’s sixth largest manufacturer of steel and reach the crude steelmaking production capacity of 55 million tons per year by the end of 2025. Despite objections regarding the plan’s feasibility by industry experts, the government remains steadfast in pursuing the goal.

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