(MENAFN) Iran's deputy industry minister, Reza Fatemi-Amin, stated that once the country's steel production projects become operational, the coming year, the Islamic Republic will stop importing steel products, reported Tehran Times.
Fatemi-Amin said that the country imports around 7 million tons of crude steel on annual basis.
The country started executing several steel projects with a total output capacity of 12 million tons, according to Industry, Mine, and Trade Minister, Mehdi Ghazanfari, who added that by March 2016, Iran will become one of the world's leading steel exporters.
It is worth noting that during the past 2 years, the Islamic Republic produced 17 million tons of steel.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.