Iranian semi-state-owned company Zarand Steel has recently signed a contract with a consortium of contractors, including Iran-based Ghaem Reza and China's Sino Steel, for the construction of a steel plant which will have an annual capacity of 1.5 million mt for the production of billets and slabs.
The new steel plant, which will be built at a total investment cost of around €513 million, will use blast furnace technology and will be constructed within 36 months. The mill is expected to supply its production mainly to the local market, though it may also export some materials. Zarand Steel based in Zarand city in the Iranian province of Kerman.