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Iranian steel industry advances localization and technology development

During the 6th Iranian Steel Festival and Exhibition, a multilateral memorandum of understanding was signed to enhance localization, domestic manufacturing, and technology development within Iran's mining and steel sectors.

Iranian steel industry advances localization and technology development

During the 6th Iranian Steel Festival and Exhibition, a multilateral memorandum of understanding was signed to enhance localization, domestic manufacturing, and technology development within Iran's mining and steel sectors. This agreement, involving key organizations such as IMIDRO, the Ministry of Energy, and the Iranian Steel Producers Association, aims to strengthen the country's steel production capabilities.

Mohammad Aghajanloo, Chairman of the Executive Board of IMIDRO, highlighted the significant savings achieved through localization efforts since 2020, amounting to nearly $2.5 billion. He emphasized the goal of saving an additional $800 million this year by continuing to localize parts and equipment. A comprehensive system has been launched to facilitate communication between steel producers and equipment manufacturers, involving 1,430 localizing companies and identifying 27,000 localized parts and 300 strategic requirements.

Aghajanloo stressed the importance of investing in engineering knowledge and technology to ensure sustainable development and improve Iran's global standing in the steel industry. He also underscored the need to develop green steel technologies to reduce pollution and align with global standards, with energy optimization being a top priority.

Bahram Sobhani, head of the Iranian Steel Producers Association, pointed out that despite an annual production capacity of 50 million tons, only 30 million tons are utilized due to energy imbalances. He noted that resolving these issues could elevate Iran to the seventh position in global steel production. Sobhani also highlighted the role of localization in reducing import dependence and fostering technological advancements within the industry.

The festival saw the unveiling of the Iranian Steel Atlas, a comprehensive roadmap for the country's steel chain, and the launch of a national software to manage the needs and capabilities of steel industry manufacturers and suppliers. The event also facilitated the signing of numerous memorandums of understanding, furthering the collaboration between steel companies and domestic manufacturers. This initiative marks a significant step towards enhancing Iran's steel industry, promoting sustainable practices, and leveraging local expertise to drive technological innovation.

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