Maintaining production is a priority in Iran's metallurgical sector

Maintaining production is a priority in the country's steel sector, Iranian Deputy Industry, Mining and Trade Minister Jafar Sargini was quoted as saying on Saturday.

Speaking about the problems posed by the sanctions, the official said that in the context of the sanctions, steel producers prefer to use foreign currency to continue the production process, so the implementation of development projects is in second place.

He said that by 1400 (March 2021 - March 2022), Iran's annual steel production will reach 45 million tons.

Referring to the sanctions, Sarkini noted: “All those who have imposed sanctions on Iran are seeking to destroy their country's production facilities; therefore, the Ministry of Industry, Mines and Trade prefers that steel producers primarily focus on production, in which case relevant development projects with physical progress of more than 70 percent will also help achieve this goal. ”

On June 15, the official announced that the country's annual crude steel production is slated to reach 30 million tonnes in the current Iranian calendar year (ending March 19, 2020).

According to the Tasnim news agency, last year the official estimated the volume of steel production in Iran at 25 million tons.

Sarkini also announced that Iran will open metallurgical projects with a capacity of at least 10 million tons during the current Iranian calendar year.

Meanwhile, at a press conference on June 8, the deputy minister said the ministry had taken the necessary steps to support the country's metal exports despite US sanctions.

“We have set up a special working group within the ministry that is carefully assessing the situation and taking the necessary measures to mitigate the impact of US sanctions,” Sarkini told the Tehran Times at a news conference.

The official noted that exports from the country's mining sector are expected to at least reach $ 8.5 billion last year by the end of the current Iranian calendar year.

“We will also have no problems with supplies for domestic consumption this year,” he added.

Answering a question about foreign investments in the industry, the official noted that at present, about $ 1 billion is required to equip new mines and overhaul some equipment in old ones. USA, and in the sectors of exploration and research more than 400 million dollars are also required. USA.

“We hope that both foreign and domestic investors will seize the opportunity to enter this lucrative industry,” he added.

Mentioning some of the Ministry's incentive programs aimed at stimulating the economy