Iranian sources have revealed that a new private sector steel mill is under construction at Malayer in the western Iranian province of Hamedan.
With construction commenced in Iranian year 1385 (March 21, 2006-March 20, 2007) and expected to last for up to three years, the new mill will be the first private sector steel mill in western Iran.
Total investment in the project amounts to $32.6 million, while the production capacity and product range are yet to be determined by the partners involved.
The annual steel production capacity in Hamedan Province totals 95,000 mt. The volume will increase dramatically once the new plant is put into operation.