Turkish firms to visit Iran on 'bridge of steel' mission
An industrial delegation from Turkey will soon visit Iran to explore the opportunities for investing in the Iranian market.
The delegation will comprise representatives from 22 steel companies. They will arrive in capital Tehran on 15 November for a two-day visit during which they will meet with industrialists and officials to discuss issues of mutual interest.
The trip has been arranged by the Turkish Steel Exporters' Association (CIB) that has described the mission as a “bridge of steel” meant to promote Iran-Turkey industrial cooperation, based on an announcement by the Turkey Embassy in Tehran.
“Iran is both a close friend and an important trade partner for Turkey,” the statement has quoted CIB Chairman Namık Ekinci as saying.
“Iran is expected to enter a period of significant investment as the sanctions against the country are lifted, and for the country, Turkish steel industry presents a major opportunity,” he added.
Ekinci has further underscored the “great importance” of Iran’s natural resources, stressing that the two countries can benefit from each other’s experience and know-how in the area of steel industry.
“These factors, and the synergy that will be created by the steel industry representatives of the two countries, will serve to realize the full potential of trade between these countries. In addition to an increase in trade, new investment opportunities also will be discussed, and both countries will benefit greatly as a result," he added.
According to a report by the World Steel Association (WSA), Iran is the largest producer of crude steel in the Middle East and Africa and 14th in the world, given the hike in its steel output.
Official figures show that the country produced right over 4 million tons of raw steel in the first three months of 2015, showing a 9.6-percent increase from the same period last year.
Major raw steel producers of Iran are the Mobarakeh Steel Mill, with approximately 47 percent of the market share, followed by the Khuzestan Steel Company with about 23 percent, the Isfahan Foundry with about 20 percent, and the Iran National Steel Industries Group with some 10% of the market share.
Based on Iran’s long-term plans, the total steel production capacity is to hit 55 million tons a year by 2025, with an expected exports figure of 10-15 million tons per year.
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