MNA � Iran�s annual steel exports is worth about $1.6 billion, according to deputy minister for mines and the mining industries, Jafar Sarghini.

The total value of Iran�s annual steel exports stands at $1.6 billion, Sarghini said on the sidelines of visiting Shahroud Steel development plan on Tuesday.

He said 12.5 million tons of steel were exported in the first six months of the current Iranian year (Mar. to Sep.), adding that the total capacity of steel production in Iran stands at 34 million tons.

According to him, the steel exports enjoyed a 13 percent increase in terms of value, and 23 percent increase in terms of weight, this year.

The country�s steel chain capacity is estimated at 205 million tons, he said, adding that the capacity has fortunately reached a balance.

The deputy minister further stated that steel production is estimated to reach 55 million tons by 2025.