Persian Gulf Special Economic Zone increased mineral and steel production
Tehran, Iran, Aug.19
The volume of steel production in Iran's Persian Gulf Special Economic Zone (SPGSEZ) has increased, Managing director of SPGSEZ Hassan Khalaj Tehrani told Trend.
"The targets of the government are localization, improvement of domestic production and reduced dependency on imports. The task of producing 10 million tons of steel has been set and new company will be established to reach this production level," he noted.
"Currently, Homrozgan Steel and Saba Steel companies have expressed readiness to launch the company; however, other steel companies can also join in and have shares in the plant based on their capital," he added.
"The project is expected to be operational in 2025. In the meantime, Bandar Abbas steel development plan is to increase the production by 5.5 million tons," he added.
"The customs statistics indicate that mineral, steel and bitumen exports reached 5.8 million tons worth $1.6 billion," he said. "The steel exports amounted to 1.87 million tons at the value of $682 million. The total production volume in the economic zone was 6.4 million tons including steel, aluminum, zinc and briquette," he noted.
"The investment in establishment and installment of equipment of the zone was $953 million and the investment of $1,300 million is being reviewed," he said.