TEHRAN: Four steel producing companies with a capacity of 11.6 tons crude steel production will be inaugurated in the southern coast of Iran with collaboration of private and foreign sectors.
These steel producing companies will be inaugurated in Chabahar, Qeshm and Bandar Abbas according to a new plan the IMIDRO (Iranian Mines & Mining Industries Development & Renovation) has defined based on the steel master plan.
According to the steel master plan, Iran’s south coasts are one of the country’s best spots for developing the steel industry due to easy access to water and energy, transport, exports and imports, as well as a considerable drop in production costs.
A four million ton steel production project will be launched in Bandar Abbas with the collaboration of Indian investors, and a 1.6 million ton project will be inaugurated there with investment from a Kuwaiti company.
Also, a domestic private sector investor will collaborate with the implementation of Chabahar steel with a capacity of 3mn tons. One of the country’s largest iron ore company and its private partners will pool resources to inaugurate a 3mn tons capacity of steel production on the Island of Qeshm.
According to a report issued by IMIDRO in December 2014, production of crude steel and steel products in the country over the past eight months, ending November 21 showed a rise of 6.8 and 4.8 percent respectively.
