(Minews) - Iran’s government has allocated funds for implementing seven pending steel projects, which were stalled for a long time by a Chinese company, according to a report.
The projects are located in the cities of Shadegan (Kuzestan province), Sefid Dasht (Chaharmahal-Bakhtiari), Mianeh (East Azarbaijan), Neiriz (Fars), Qaenat (South Khorasan), and Sabzevar (Khorasan Razavi), said a report by Iran Daily, citing Islamic Republic News Agency.
Meanwhile, the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) also announced that the annual output of Iran Alloy Steel Company has increased by at least 15 per cent.
The company produced 420,000 tonnes of products in the year to March 21, 2015, from 276,000 tonnes five years ago.
According to the latest figures released by the World Steel Association (WSA) in January 2015, Iran was the top steel producer in the Middle East in 2014, said a statement.
Iran's steel production reached 16.331 million tonnes in 2014, showing a 5.9 per cent increase compared to the figure for 2013 when the amount stood at 15.422 million tonnes, the report added.
Iran also ranked 14th among major steel producing countries in the world.
