Iran's steel sector strives to keep up with vision plan
- According to the Minister of Industry, Mine and Trade, the production of 50 to 60 million metric tons of crude steel by 2025 – as targeted by the National Vision Plan – can be only achieved through completion of the steel production chain and exploring new iron ore mines, IRNA reported.
"The shortage of iron ore pellet can be overcome through attracting new investors in the sector", said Mohammad-Reza Nematzadeh on Tuesday.
The mining projects to produce iron ore concentrate and iron ore pellet should be established close to wharfs, transit roads, and railways so that the processed minerals can be easily and quickly transported, said Nematzadeh, stressing that the mining sector should refrain from selling extracted minerals in the raw form.
He emphasized that no mineral project should be abandoned and if a mining firm or contractor is unable to carry on with the project, the industry ministry will replace it with another authorized and capable firm.
Choosing the right contractor, time management, standardization, and constructive interactions between mines and banks were also mentioned by the minister as key factors that must be taken into consideration in order to meet the goals set out by the Vision Plan (2005-2025).
"Reaching the target within the next decade is quite feasible since the country enjoys abundant energy resources and inexpensive and skilled labor force," the industry minister added.
He added that the government is doing its best to help complete the industrial and mineral projects as soon as possible but that the banks and the National Development Fund of Iran (NDFI) are also expected to lend a hand to the industry ministry.
Publish date : Friday 24 April 2015 12:11
Story Code: 23870
Source : Financial Tribune