Iranian President Hassan Rouhani has inaugurated several major industrial and mineral projects with an overall price tag of Rls. 48 trillion.
The projects, which were inaugurated in a ceremony held on Thursday via videoconference, simultaneously came on stream in the central province of Isfahan and the northeastern province of Khorasan Razavi.
Among the projects inaugurated was an iron ore concentrate production unite with an annual output capacity of 5 million tonnes as well as an iron pellet production unit with a production capacity of 2.5 million tonnes a year.
On the sidelines of the industrial projects, other projects also went on line, including several projects to produce fridges, polymer products and houseware appliances.
Addressing the opening ceremony, President Rouhani said the nation’s ranking in terms of steel production has improved from the 10th spot to the 8th as the country’s steel output capacity stands at 55 million tonnes.
He said Iran is producing a whole range of steel products, including iron ore concentrate, pellets, sponge iron and iron ingots.
“Our steel production chain (range of products) is a regular and complete one,” he said.
His comments come as the World Steel Association’s latest report shows Iran’s global standing in steel production has declined from the previous eighth to become the world’s ninth biggest crude steel producer.
Iranian steel mills sold over 254.35 trillion rials ($1.6 billion) worth of steel products during the last fiscal year.
According to Reza Shahrestani, a member of the Board of Directors of Iran Steel Producers Association, sales volume shows a 93% rise compared to the year before.