Persian Gulf Saba Steel

PGSSCO was registered under CRN 235853 on December 4, 2004, in the Office of Registration of Companies and Industrial Property of Tehran. As per Article 2 of the Memorandum of Association, the company has focused on constructing a steel factory with a final capacity of 4.5 million tons for producing sponge iron (DRI) and 4.5 million tons of billets and slabs in the Persian Gulf Mining and Metal Industries Special Economic Zone (PGMISEZ), located in 23 km at the west of Bandar Abbas in Hormozgan province. This zone is distinguished by having a port, railway, and road facilities, minerals loading and unloading equipment, and proximity to the Gol-e Gohar Iron Ore Deposit, which is the leading producer of pellets, iron ore, and iron ore concentrate, as well as accessibility to water, electricity, and gas resources. On November 15, 2008, the PGSSCO management was assigned to Civil Pension Fund Investment Company (CPFIC). Looking at the company’s strategic plan, constructing a steelmaking unit with a capacity of 1.5 million tons per year, a DRI manufacturing unit with a capacity of 1.5 million tons per year, and a casting billet manufacturing unit with a capacity of 1.5 million tons per year has been scheduled in two phases. In September 2009, a contract was signed to construct a reducing unit with a capacity of 1.5 million tons per year of hot briquetted iron (HBI) and charging of hot DRI in a melting furnace.