SMS Siemag seeks to invest in the Iranian steel industry

After the recently reached agreement between Iran and the world powers, European companies expressed their readiness to invest in Iran the construction of new facilities. Following oil and gas companies, they want to return to Iran and companies operating in other areas of industry. SMS Siemag also expressed a readiness for investment in steel projects of the Iranian industry. The President and General Director of SMS Siemag, Burkhard Damen, said this in a statement during a meeting with the head of the Iranian organization for the development of the Mahdi Karbashi mining and metallurgical sector in Tehran, according to Tasnim. In particular, Damen said that the EU policy on the development of relations with Iran gives a new opportunity that we should not miss.
LLC RXCS, Belgorod Tel. +7 (4722) 40-00-40 During the meeting, the parties agreed on the participation of SMS Siemag together with other international metallurgical companies in the implementation of steel production projects in Iran. SMS Siemag previously participated in some steel projects in Iran, including Hormozgan and Mobarakey metallurgical plants. Earlier, Mahdi Karbasi said that Iran signed contracts with the Italian and German-Iranian companies to expand Iran steel industry. The new foreign policy of the Iranian government, as Karbasi said, welcome the participation of foreign investors in the mountain and metallurgical projects of Iran. The production of steel in Iran reached 14.89 million tons in the previous Iranian calendar year, which ended on March 20. Iran plans to increase the annual production of steel to 55 million tons by the end of 2015.