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.
This halt to production could have significant implications for businesses across the country, which have already been grappling with extensive Western sanctions.
The Iranian government reported recent missile attacks from Iran, with claims that a medical research centre and a pharmaceutical company were also targeted in the strikes. Amid rising tensions, both US and Israeli forces have increasingly been targeting a wider range of locations in Iran, amid serious humanitarian concerns.
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.
This halt to production could have significant implications for businesses across the country, which have already been grappling with extensive Western sanctions.
The Iranian government reported recent missile attacks from Iran, with claims that a medical research centre and a pharmaceutical company were also targeted in the strikes. Amid rising tensions, both US and Israeli forces have increasingly been targeting a wider range of locations in Iran, amid serious humanitarian concerns.
