Persian Gulf Saba Steel Co.
Pars Steel Co. was registered in the Office of Corporate Registration and
Industrial Property in Tehran with license No. 235853 on 4th of December 2004
and has started operating according to the company's Memorandum of Association,
article number 2, for establishing a steel plant with the final capacity of 5.4
million tons of sponge iron along with 5.4 million tons of billets and slabs in
the Persian Gulf Special Mining and Metal Industry Area based in 20 kilometers
west of Bandar Abbas in Hormozgan. Having access to port, rail, road, mineral
discharge and loading facilities as well as proximity to Gol Gohar as a major
producer of pellets and its iron ore mines, in which iron ore and iron ore
concentrate are manufactured, had made the Special Zone to the hallmarks of the
region. Furthermore, availability of resources such as Electricity, gas and
water are considerable advantages of the place.
company was managed by Indian Managers who were selected by the Indian
shareholder (Aria Infrastructure Holdings Limited (AIHL)) until the 29th of
October, 2008. Given the political and
economic conditions, they adopted numerous decisions regarding the project's
implementation and their capacity in different period of times which they all
were not unfortunately implemented in practice.
management of the company was assigned to the Civil Pension Fund Investment
Company on 15th of November, 2008 and its name was changed to Persian Gulf Saba
Steel Company in accordance with the approved extraordinary General Assembly
dated on 22nd July, 2009.
on the last decision the company adopted under the name of "company's
strategic plan" which was enacted by the board of directors on 20th of
April, 2009 (the thirty-seventh board of directors meeting),the company has
intended to construct a steel plant with a capacity of 1.5 million tons in the
first phase of its project, encompassing a sponge iron production unit of 1.5
million ton capacity and a casting and melting (billet production) unit with a
capacity of 1.5 million tons per year in two stages.
September of 2009, the EPC contract for the resuscitation unit with capacity of
1.5 million tons per year for producing iron sponge briquette (HBI)) and Hot
DRI charging into a melting furnace was signed with IRITEC company and since
then other operations related to the activities of the first phase including
the follow-up to the steel contract, has also been in progress.