Economy, Business And Markets

Backing for Steel Projects

Backing for Steel Projects Backing for Steel Projects

The minister of industry, mine and trade says he has personally followed up the progress of several steel production projects, and has urged the removal of obstacles on the way of unfinished projects, reported iribnews. Mohammadreza Nematzadeh emphasized that the supply chain in steel production, including iron ore, iron concentrates, iron ore pellets, direct reduced iron (DRI), and smelting, should be organized as quickly as possible to help fulfill the country’s 20-Year Vision Plan (ends 2025). Based on the long-term development plan, Iran should produce between 52 and 55 million metric tons of crude steel per year. Apart from infrastructural improvement, other issues related to the steel industry need to be resolved, including transportation and tax breaks for products and the machineries, said the minister. Nematzadeh pledged that his ministry would try its best to help overcome the shortage of raw materials.