Iran’s steel industry develops with a new look

Karbasian, accompanied by executives of major Iranian steel companies in Moscow Steel Summit, said development plans of steel industry, targeting production of 40 million tonnes, will be implemented with creating a new atmosphere in global interactions and changing of stances in relationship with Islamic Republic of Iran.
Addressing president and secretary general of World Steel Association and also executives of world’s steel giants, he stated that Iran as the world’s 14th steel producer country, enjoys a lot of advantages for development of steel industry including abundant raw materials and energy, skilled human resources, access to the high seas and 14 neighbors consumption markets which prepare the ground for cooperation with foreign firms.
While pointing to creating balance in steel production chain from production of raw materials to finished products as one of the main targets of the industry, Chairman of IMIDRO indicated that crude steel production capacity will increase to 30 million tonnes in 4 years from current 15 million tonnes and to this end, several projects are under implementation which will go on stream soon.
“Due to huge reserves of energy in the country, IMIDRO focuses on using direct reduced iron (DRI) method”, he added.
Secretary general of World Steel Association, for his part, praised renewed activation of IMIDRO and expressed readiness of the industrial group to support and collaborate with Iran’s steel industry.