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Iran’s steel industry targeting regional, global markets

Mr Mohammad Khandadash MD of National Iranian Steel Company said that exports to regional and world countries is high on the agenda of Iran’s steel industry.

Mr Khandadash said that if the officials don’t take action today, the rivals will take the opportunities away from Iranian companies.

He said that in addition to Turkey, three other regional countries, Saudi Arabia, the UAE and Qatar, through implementing development plans, have emerged as new rivals for Iranian steel industry.

Mr Khandadash called for new plans to provide requirements and attract foreign investments to boost Iran’s steel industry.

Based on Iran’s 20-year Strategy Outlook, the country has plans to increase annual steel production capacity to 55 million tonne in 2015.

Iran’s annual output stood at 15.6 million tons last year and is estimated to reach 17 million tons in the current year.

Source – IRNA

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