Iran-based Samen Steel’s new billet plant to cost a total of $277 million

The construction of new Iranian steel plant Samen Steel started a few months ago in Iran. The plant, which is located in Ardakan in the province of Yazd, has a planned annual capacity of one million mt of 150 x 150 mm - 200 x 200 mm steel billet. An investment of about Iranian Rials 2.96 trillion (around $277 million) has been estimated for the project, of which approx. Iranian Rials 180 billion have been spent so far. Samen Steel will be fed by sponge iron produced by Ghadir Iranian Iron and Steel, which located in the same area. Samen Steel is a subsidary of major Iranian iron ore miner Chador Malu.