Iran's two largest steel plants have been shut down due to multiple rounds of US-Israeli air strikes, the companies operating them say.
Our initial estimate is that restarting these units will take at least six months and up to one year, Mehran Pakbin, deputy head of operations at the Khuzestan Steel Company in south-western Iran, was quoted as saying by Iranian media.
Mobarakeh Steel Company said its production lines in the centre of the country had completely shut down following the high volume of attacks.
The strikes, which Israeli media and Iran's foreign minister said were first launched by Israel in co-ordination with the US last Friday, could cause major damage to Iran's economy.
Iran is the 10th biggest producer of steel globally, according to data from the World Steel Association. In addition to using steel domestically for construction and manufacturing, it exports the material across the world.
Any halt to production could have major implications for supply chains and businesses across the country, which for years have been affected by comprehensive Western sanctions.
Iranian Foreign Minister Abbas Araghchi stated that Israel has targeted two of Iran's largest steel factories, a power plant, and other infrastructures, and that the strikes are expected to lead to billions of dollars in damages to the Iranian economy. The IRGC also stated that it has targeted US-linked facilities in Gulf states as a backlash.
US and Israeli military operations appear to be expanding in scope with the aim of addressing broader targets throughout Iran, sparking increasing concerns about potential harm to civilian infrastructures, including healthcare facilities.
Our initial estimate is that restarting these units will take at least six months and up to one year, Mehran Pakbin, deputy head of operations at the Khuzestan Steel Company in south-western Iran, was quoted as saying by Iranian media.
Mobarakeh Steel Company said its production lines in the centre of the country had completely shut down following the high volume of attacks.
The strikes, which Israeli media and Iran's foreign minister said were first launched by Israel in co-ordination with the US last Friday, could cause major damage to Iran's economy.
Iran is the 10th biggest producer of steel globally, according to data from the World Steel Association. In addition to using steel domestically for construction and manufacturing, it exports the material across the world.
Any halt to production could have major implications for supply chains and businesses across the country, which for years have been affected by comprehensive Western sanctions.
Iranian Foreign Minister Abbas Araghchi stated that Israel has targeted two of Iran's largest steel factories, a power plant, and other infrastructures, and that the strikes are expected to lead to billions of dollars in damages to the Iranian economy. The IRGC also stated that it has targeted US-linked facilities in Gulf states as a backlash.
US and Israeli military operations appear to be expanding in scope with the aim of addressing broader targets throughout Iran, sparking increasing concerns about potential harm to civilian infrastructures, including healthcare facilities.
