The new rolling mill of Iranian steel producer Natanz Steel was formally inaugurated by Iranian President Mahmoud Ahmadinejad on Monday, June 28. The new mill has an annual capacity of 1 million mt of wire rod, while an investment of about Rials 3,100 billion (approx. $297 million) was spent on its construction.
Natanz Steel is based near the city of Natanz in the central Iranian province of Esfahan. It was founded in 1999 and its first rolling mill, capable of producing rebar and plain round bar, became operational in 2004.