Iran Daily reported that existence of huge iron ore, coal and natural gas reserves has provided the potential for Iran to become one of the world's major crude steel producers.

Currently, 8 steel projects are underway in different parts of the country including Mianeh (East Azarbaijan province), Baft (Kerman province), Sabzevar (Khorasan Razavi province) and a number of other cities.

Mr Mehdi Ghazanfari Industries, Mines and Trade Minister of Iran has announced that by launching Mehr e Mandegar steel projects and other approved projects, the Islamic Republic will do away with steel imports by the end of the tenure of the 10th government.

Mr Rasoul Khalifeh Soltani product the secretary of Iranian Steel Producers Association said that "Production trend is proceeding strongly. Steel production is expected to amount to 58 million tonnes by 2020. Despite international sanctions, steel industry, as one of the pillars of the country's economy and foreign revenues has so far taken fruitful steps to achieve self-sufficiency and increase exports."

He said that "In recent years, officials of the Ministry of Industries, Mines and Trade as well as steel industrialists have begun to pay attention to achieving self-sufficiency in the industry in two sectors of supplying different industries and becoming self-reliant in steel plant construction."