Start of executive operations

The start of operational of Payeste Malek Ashtar Steel Complex in Hormozgan

On the occasion of the National Day of the Persian Gulf, the Payeste Malek Ashtar Steel Complex Company initiated its executive operations. This took place in the Special Economic Zone of Mineral and Metal Industries of the Persian Gulf.
The public relations report of the Payeste Malek Ashtar Steel Complex highlighted the commencement of the complex’s executive operations. The event was enhanced by the presence of several notable figures. These included Hormozgan Governor Mohammad Reza Rejali, the Chairman of Zarif Mosvar Industrial Group’s Board of Directors, and Khalil Ghasemi, who is the Chairman of Samt Hormozgan.

Investment Level

The Payeste Malek Ashtar Steel Complex Company is under construction on a 100-hectare site, backed by an investment of 190 million dollars. The company’s goal is to manufacture a variety of steel products at the development site located in the Persian Gulf’s special economic zone for mining and metal industries.

First level Complex

Khalil Ghasemi, Director General of Industry, Mining and Trade of Hormozgan Province, stated at the groundbreaking ceremony of the Payeste Malek Ashtar Steel Complex Company that this project will be one of the first-level complexes in the country.
He expressed his optimism about the explorations carried out, revealing that they have predicted a definite reserve of 800 million tons of hematite iron ore.

He confirmed that they have obtained and are harvesting 120 million tons of this reserve.
Furthermore, he emphasized their readiness to launch new concentrate units.

74 Million Capacity Tons of Iron

He further stated, “The province has a confirmed capacity of 74 million tons of iron magnetite. Based on this, we are issuing exploitation licenses for about 10 million tons. With hope and determination, our goal is to establish the first exploitation complex of iron magnetite in the first half of the year.”

New Steel City

Over the past years, the industrial development of Hormozgan was planned around large-scale industries, as revealed by the Director General of Industry, Mining and Trade of Hormozgan Province. He thanked the Governor of Hormozgan for his guidance in completing the chains and fostering the growth of small and medium industries. He also shared their plans to build a new steel city.

Ghasemi declared that they have issued a license in Hormozgan province to establish companies active in the steel chain with a capacity of nearly 42 million tons.
He confirmed that Payeste Steel Company, owned by Payeste Malek Ashtar, is one of these companies.

The Governor of Hormozgan took the opportunity to congratulate the National Day of the Persian Gulf, Workers’ Day, and Teacher’s Day at the ceremony.
He continually pondered over Iran’s industrial development. Drawing from the insights of a prominent historian, he acknowledged that every nation has imparted some wisdom to the world throughout history.
In particular, he underscored the significant role Iranians have played in educating the world on how to manage and administer large governments.

Engineer Dosti added: “Iran, being a great civilization, deserves to drive industrial development in its region. To achieve this, we view investors as a significant opportunity. They are the ones who will create jobs for our children and contribute to the country’s progress and prosperity.”