TEHRAN (ISNA)- World Steel Association (WSA) said Iran’s raw steel output in January totaled 1.4 million tons, rising by 19.7 percent comparing to similar period last year.
Iran’s raw steel output in January totaled 1.36 million tons.
Turkey produced 2.58 million tons of steel in January which reduced by 10.4 percent comparing to similar period last year.
The world produced 133 million tons of steel in January which lessened by 2.9 and 0.4 percent comparing respectively to January and December.
China made 65.5 million tons of steel in January which lessened by 4.7 percent comparing to similar period last year.
Early February, Iran announced that it has invested more than two billion dollars in its steel industry as the country plans to build new facilities to boost steel production capacity.
$2.2 billion has been allocated to funding seven new steel projects across the country, Iran’s Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh said.
Nematzadeh gave assurances that Iran’s steel output will increase and predicted that the Islamic Republic will be able to produce 55 million tons of crude steel per year within 10 years.
Meanwhile, Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) unveiled a comprehensive plan aimed at increasing steel production capacity in southern Iran early February.
According to IMIDRO, new steel-producing plants will be established in Chabahar, Qeshm and Bandar Abbas port cities.
Under the comprehensive plan, Iran’s steel production capacity will expand by 11.6 million tons per year.