Khuzestan Steel boosts steel exports

Khuzestan Steel boosts steel exports

Iran, a country dependant upon imports to satisfy nearly 50 percent of its steel needs, has seen its steel exports jump over the past year. Iranian steel producer Khuzestan Steel has exported 326'346 tons of steel products since March 21, 2005, the beginning of the Iranian fiscal year. Steel exports in the corresponding period of 2004 were 196'534 tons. The company's exports are mainly destined to India, Saudi Arabia and Southeast Asia Iran's annual steel production is 8 million tons, and the country has to import 5-6 million tons of steel to meet local demand. Plans are in the works for Iran to increase its steel production to 25-30 million tons by 2010.