News ID: 272332
Published: 0300 GMT August 01, 2020

Company CEO: Iran’s steel production capacity up 1.2m tons

Company CEO: Iran’s steel production capacity up 1.2m tons

Iran’s steel production capacity has grown by 1.2 million tons since the beginning of the current calendar year (March 20, 2020), said the CEO of a domestic company.

Speaking to IRNA on Saturday, Seyyed Mohammad Atabak, the managing director of Kaveh-Pars Mining Industries Development Company, added this was achieved following the completion and coming on stream of the second phase of South Kaveh Steel Plant in the southern port city of Bandar Abbass.

The second phase of the plant became operational concurrent with Eid al-Adha on Friday, he added.

This giant project was implemented using domestically-developed technology as well as the capabilities of Iranian experts and engineers, Atabak stressed.

According to figures released by the World Steel Association (WSA) on July 23, Iranian companies produced nearly 13.9 million tons of crude steel during the first half of 2020, marking a 10.2 percent rise compared to the figure for the same period of 2019, which was 12.6 million tons.

According to the WSA statistics, Iran produced 2.4 million tons of crude steel in June, showing a 5.3 percent increase compared to the figure for the same month of 2019, which was 2.3 million tons.

Iran produced 31.9 million tons of crude steel in 2019, according to the WSA figures released in January.

The country plans to increase its annual steel production capacity to 55 million tons by 2025, with exports expected to reach between 10 million tons and 15 million tons per year.

The WSA is one of the largest and most dynamic industry associations in the world. WSA members represent approximately 85 percent of the world’s steel producers, including over 150 steel producers, nine of the 10 largest steel companies, national and regional steel industry associations and steel research institutes.

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