Iran’s steel production capacity is set to increase to 42mn mt by the end of Iranian fiscal year (March 21,2020-March 20, 2021) supported by addition of Khodad Gharibpour model to accelerate various project launches, the chairman of Iranian Mines and Mining Industries Development and Renovation Organization (Imidro) said. This model will monitor the production and development progresses.
Iran produced 27.5mn mt in the prior year period which ended on March 2020. Imidro and mining companies are likely to launch or construct projects in 31 provinces with an investment of $13.5bn.
According to the 20-year Vision Plan, Iran targets to become the world’s sixth largest steel producer, and boost production capacity to 55mn mt and exports to 20-25mn mt by 2025.