Veep: Avoidance of crude selling major program of Economy of Resistance

Addressing inaugural ceremony of Foulad Mobarakeh Casting Machine No. 5 in Isfahan, Jahangiri said that promoting capabilities, using natural resources' capacities and manpower to set up knowledge-based industrial enterprises are among the main targets of the Economy of Resistance.

Iran boasts of huge natural resources, capabilities and efficient manpower, he said, noting that using the capacities, the country's industrial complexes can be promoted to their due status, reports IRNA.

Janagiri said that energy resources should not be exported without getting turned into value-added.

Calling for correct planning for industrial development, he said that the experts should first know which parts of the industry are capable of development.

Describing natural resources and mineral industries as the best grounds for industrial development, he said, 'We have huge plans for developing the country's oil and gas fields.'

The Vice-president also referred to Fould Mobarakeh as a company of international status and major symbol of the country's industry, saying that the company has now turned into a developmental institute, among ten major steel producers across the world. 

Noting that 84 percent of Foulad Mobarakeh's equipment, parts and raw materials are manufactured domestically, Jahangiri said that steel industry should be further promoted.