The new cold rolled mill was built with a total investment of Rial 1.5 trillion ($162 million) plus $75 million and has a designed production capacity of 500,000 metric tons annually. Its inauguration had been postponed for more than a year due to financial problems caused by UN sanctions imposed on Iran due to the country's ongoing nuclear program.
The new cold rolled mill joins Ferro Gilan's hot rolled mill, which commenced production in 2005 and has an annual production capacity of 1.6 million metric tons.
Due to the company's close proximity to Caspian Sea ports, slabs required for production are mainly imported from the CIS, in particular from Russia.
The inauguration of the mill was attended by Iran's First Vice President Mr. Parviz Davoodi.