Iran’s target of boosting its steelmaking capacity to 55 million mt/year by 2025 is achievable and could even be met ahead of deadline, domestic media quoted a key industry consultant as saying Tuesday.
However, he said the main challenge for Iran was not expanding steelmaking capacity, but obtaining raw materials.
“The country’s [nominal steelmaking] capacity is about 33 million mt/year now, plus various projects with about 22 million mt/year capacity are under construction,” Mohammad Abka, managing director of steel sector consultancy FIECO, was quoted as saying at the Iranian Steel Markets Conference in Tehran by domestic news agency Minews.
“The industry might face a shortage of concentrated and non-concentrated iron ore in future and we will have to import a portion of the required material if we could not discover new reserves,” Abka was quoted as saying.