TEHRAN- Iran’s major steel producers produced 16.64 million tons of crude steel during the eight-month period from March 21 to November 21, 2018, with 18 percent growth from the figure of the same period of time in the past year, IRNA reported on Saturday.

These producers produced 14.169 million tons of crude steel during the eight-month period of the previous year.

Also as reported by the World Steel Association (WSA) in November, production of crude steel in Iran stood at 20.59 million tons during the first ten months of 2018, indicating 19 percent rise from 17.303 million tons in the same period of time in 2017.

“Iran produces 34 million tons of steel per year and is aimed at producing 55 million tons of the product by 2025,” according to the previous industry minister, Mohammad Shariatmadari.

To hit the target, Iran is in need of attracting €8 billion of investments, he said in last July.

He also announced that the country exports 9 million tons of crude steel per year and plans to improve the figure up to 15 million tons by 2025.

MA/MA