TEHRAN – Iran’s Industry, Mining and Trade Minister Mohammad Shariatmadari said over $25.6 billion is needed to reach the country's 55 million-ton steel capacity envisaged in Iran’s 1404 (March 2025-March 2026) Outlook Plan.

“$8.4 billion is needed for mining sector while €14.5 billion (about $17.247 billion) is the estimated finance needed for the industry’s infrastructures,” Shata quoted Shariatmadari as saying. 

Iran’s crude steel output stood at 18.466 million tons in the past Iranian calendar year 1395 (ended on March 20), showing 11 percent rise from 16.656 million tons in 1394.

The country exported 5.5 million tons of crude steel in the past year, with 27 percent increase from the figure of its preceding year.

Iranian Steel Manufacturers Association’s Secretary Rasoul Khalifeh-Soltan believes that while the country’s steel industry’s growth has been 5.7 percent on average in the recent years, the figure can reach 10 percent this year, given the promising condition the sector enjoys at present.

EF/MA