The installed capacity of crude steel production in Iran has exceeded 40 million tons per year, according to the deputy industries minister.
“The annual production of steel ingots has exceeded 30 million tons,” Vajihollah Jafari was also quoted as saying by IRNA during the Eighth Steelprice Conference held recently.
“The domestic steel industry’s installed capacity includes 36 million tons of direct reduced iron [DRI], 66.7 million tons of pellets and 62.7 million tons of [iron ore] concentrate, but at the same time we are facing problems in supplying raw materials,” he said.
“The target capacity of 55 million tons of steel ingots is expected to be achieved in the fiscal 2025-26, of which 40 million tons have been realized so far and another seven million tons will be added in the current year [fiscal 2021-22].”
The official noted that $21.5 billion have been invested in the steel industry, of which $19 billion have been installed.
“The required electricity for steel industry is 8,000-9,000 megawatts, of which 6,000 megawatts are currently in use and an additional 12,500 megawatts are required,” he said, adding that gas is also required in the steel industry as feedstock.