German company seeks to invest Iran’s steel industry
By Sara Rajabova
Following the recent deal between Iran and world powers, the European companies voiced readiness to invest in Iran.
After the oil and gas companies, the companies operating in other fields of the industry want to return Iran.
The German SMS Siemag company is also expressed readiness for investment in Iranian steel projects.
President and CEO of SMS Siemag, Burkhard Dahmen made remarks during a meeting with, head of the Iranian Mines & Mining Industries Development and Renovation Organization (IMIDRO), Mahdi Karbasian in Tehran, Tasnim news agency reported.
Dahmen said the EU policy towards boosting relations with Iran is a new opportunity which should not be lost.
During the meeting, the sides agreed on SMS Siemag's involvement in joint venture with other international steel companies in Iranian steel projects.
SMS Siemag earlier participated in some steel projects in Iran including the Hormozgan and Mobarakeh steel plants.
Earlier Karbasi said Iran signed contracts with Italian and German-Iranian companies to expand the Iranian steel industry.
The public relations office of IMIDRO said on November that over 9.174 million tons of steel ingots were produced in Iran during the first seven months of the current calendar year, which started on March 21.
The figure shows nine percent increase compared to the same period of the previous year.
Iran's steel products output surpassed 9.735 million tons in the first seven months of the current year.
The World Steel Association said in its latest press release that Iran produced 1.364 million tons of crude steel in September 2013.
The figure shows over 10.7 per cent increase compared to the same month of the previous year.
The country's total output in the first three quarters of 2013 amounted to 11.318 million tons.
Iran's crude steel production reached 14.89 million tons in the previous Iranian calendar year, which ended on March 20.
Iran plans to increase its annual steel output to 55 million tons by the end of the Fifth Five-Year Development Plan 2015.
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