Mobarakeh Steel Complex (MSC) plans to increase its annual production capacity to 10.3 million tons, said the company's managing director.
Bahram Sobhani further said that according to the development plan, the figure is to increase to 25 million tons by 2025.
He said that based on its policies to complete the production chain, MSC has prioritized investment as well as developing the quality of products to achieve its objectives.
Sobhani hoped that by launching the fifth casting unit of MSC, the company's production capacity will increase by 1.8 million tons in the near future.
He put the plant's current annual production at 5.4 million tons adding that with the inauguration of Saba Development Plan, output will rise to 10.3 million tons by mid-March.
The official pointed to the 22-percent share of MSC in steel billet market in the region and said the company is the world's largest producer of sponge iron.
In October, Mahmoud Akbari, the company's deputy head for sales, said one of the priorities of MSC is to supply material required by Iran's downstream manufacturers.
The last few months have seen a rise in domestic demand for steel thanks to the government's policies, he said.
The construction industry is still quiet but other sectors' consumption was boosted by water projects and recent investments in the oil industry, he added.
Demand is also expected to grow as a result of gas pipeline projects and developments in the country's auto industry, Akbari stated.
Currently, the biggest domestic consumer of MSC products is the pipe and profile industry, he said.
MSC is developing products to supply Iran's oil and gas industry and is now able to produce API grades of flat products, including X60, X65 and X70, he concluded.
© Iran Daily 2016
