Mobarakeh Steel to boost steel capacity

Mobarakeh Steel to boost steel capacity

Iranian steelmaker Mobarakeh Steel Company announced plans to increase its steelmaking capacity to 7 million tons by the end of next four years, through a new project called "Shahid Kharazi". The cost of the project is projected to be $1 billion. The capacity expansion project will cover a tender that will be held for a 2.8 million-ton hot strip mill in the fourth quarter. The mill will use new continuous slab processing technology to promote capacity expansion. The tender will be followed by another tender that will be held for the expansion of existing facilities.