Iran to enhance steel output capacity

By IBTimes Staff Reporter | December 29 2009 6:43 AM

Iran is planning to enhance country's steel capacity by establishing new steel units by 2011. Eight new steel units are under construction and Iran is expected to produce at least 6.4 million tonnes of more steel by the end of 2011.

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Ten trillion rials (around $1 billion) worth of bonds will be issued in two stages to expedite the implementation of the projects.

Among the 20 largest steel producers of the world only Iran, China and India have not been affected by the global economic crisis and Iran ranks first in terms of growth.

In the first ten months of 2009 steel production in Iran has risen from 8.16 million tons to 9.22 million, an 11 percent growth. Meanwhile, steel production in the world has decreased 13 percent during this period.

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