Sadid International Group to establish steel pipe mill

Sadid International Group to establish steel pipe mill

According to recent news in the market, Iranian industry group Sadid International Group announced that a modern factory for production of steel pipes in Mahshahr will be operational within two months. Sadid officials stated that the project will cost Rials 550 billion ($63.3 million). $30 million of the total investment is stated to be funded through the Forex Reserve Fund. The products of the new factory will be used for gas and oil transfer and the factory will produce 300'000-500'000 tons of steel pipes per annum.