(Minews) - The annual production capacity of Hormuzgan Steel Company will reach 3 million tons by the end of the Fifth Five-Year Economic Development Plan (2015).
Announcing this, Mehdi Karbasian, the deputy industries, mines and trade minister, said the company's current capacity stands at 1.5 million tons per year, IRNA reported.
He said Hormuzgan Aluminum Complex (Hormuzal), with an annual production capacity of 147,000 tons of aluminum, is the other aluminum production unit operating in the Persian Gulf Special Economic, Industrial and Mining Zone (PGSEZ).
Based on the Fifth Plan and the 2025 Vision, Iran's steel production should reach 35 million tons and 55 million tons by 2015 and 2025 respectively.
According to World Steel Association, Iran was the second leading steel producer in the Middle East in 2010 after Turkey.
Iran's main steel mills are located in Isfahan and Khuzestan provinces.
The major raw steel producers of Iran are Mobarakeh Steel Mill, with approximately 47 percent of the market share, Khuzestan Steel Company with 23 percent, Isfahan Steel Mill with 20 percent and Iran National Steel Industries Group with 10 percent of the market.
Karbasian, who is also the head of Iranian Mines & Mining Industries Development & Renovation Organization, added that PGSEZ is a suitable place for implementing steel and aluminum projects because of its strategic location.
He said expanding PGSEZ's area by 2,500 hectares and attracting domestic and foreign investors will help the zone develop further.
Karbasian hoped that by establishing the zone's infrastructures, it will attract more foreign and domestic investments.
Having access to gas refineries and high seas, an airport, main roads and the country's biggest container jetty are some of the advantages of PGSEZ.
