Nicosia, May 19 (ANI): Iran has announced that next week it will put a steel mill into operation in Khuzestan Province, becoming one of the world's ten producers of wide steel sheets and Middle East's only country to do so.
Iranian Mines and Mining Industries Development and Renovation Organization has invested 370 million dollars plus 3.5 trillion Iranian rials in the project to produce 1.05 million tons of steel sheets of up to 4.5 meters width per annum, the Mehr News Agency reported.
Mohammad Masood Sameie Nejad Deputy Industries and Mines Minister for mining and mining industries affairs announced that Iran's steel production surpassed 15 million tons. He added that giant projects are becoming operational in various parts of the country.
World crude steel production for the 66 countries reporting to the World Steel Association was 84 million metric tons in February 2009, showing 22 per cent lower than February 2008.
Crude steel production showed a continued decrease in nearly all the major steel-producing countries in February 2009 compared to the same month in 2008, except for Iran and China.
Iran recorded an increase of 15.9 per cent in February 2009 (compared to February 2008), producing 0.9 million metric tons of crude steel.
The Middle East is the only region showing production growth this month. (ANI)