The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) has put at $793 million the value of the projects to boost the steel ingot output in the present year, IRNA reported.
Statistics indicate that major steel producers of the country cast 1.797 million tons of steel ingots during the month to April 19.
According to recent figures released by the World Steel Association (WSA), Iranian steel mills produced 6.75 million tons of crude steel during the first three months of 2020, marking a 13.2-percent rise compared to the corresponding figure for 2019, which was 5.96 million tons.
Iran cast 2.25 million tons of crude steel in March, showing a 14.15-percent increase compared to the figure for the same month of 2019, which was 1.97 million tons.
The country produced 31.9 million tons of crude steel in 2019, according to figures released by WSA in January.
According to the Islamic Republic’s Vision Plan, the country’s total steel production capacity is to hit 55 million tons a year by 2025, with export figures expected to reach 10-15 million tons.