Mohammad Masoud Saminejad, managing director of Iranian state-run steelmaker Mobarakeh Steel, stated that the company's steelmaking subsidiary Hormozgan Steel will increase its capacity to 2 million mt per year within the first phase of its expansion project. In the second phase of the project, the annual steel production capacity of the company will go up to 3 million mt.
Saminejad said that the projects will be carried out within 3 years. Located at the Iranian Persian Gulf port of Bandar Abbas, Hormozgan Steel currently has an annual output capacity of 1.5 million mt of steel slab.