Groundbreaking Ceremony for Faratarh Alloys Steelmaking Complex

According to the vision, the Faratarh Alloys Steelmaking Complex is expected to be operational by 2026. This will enable Iran to transition from an importer to an exporter of stainless steel, which has so far been largely imported. This complex, utilizing advanced global technology and green production processes, will play a crucial role in meeting domestic needs and boosting exports. Stainless steel is a strategic product with wide applications across various industries, including oil, gas, petrochemicals, refineries, marine and shipbuilding, automotive, home appliances, and medical equipment. This project is strategically important for completing the value chain of Iran’s steel industry.

The Faratarh Alloys Steelmaking Complex will have an annual production capacity of 864,000 tons of stainless steel in austenitic grades (including 304, 304L, 316, 316L, 321), ferritic grades (including 409, 409L, 430), martensitic and duplex steels, and various marine and shipbuilding steels (including A36). Upon completion of its various production phases, the country’s need for hot and cold rolled sheets of this product will be met.

This massive project, which will be constructed on a 50-hectare site in the Iswaico area of Bandar Abbas, will generate direct and indirect employment for 4,850 people.

The CEO of Faratarh Alloys stated regarding the technology used in this strategic project: “The Faratarh Alloys Steelmaking Complex prioritizes environmental protection and utilizes green technology from a leading European steelmaking company, representing one of the most advanced technologies in the steel industry. This technology considers environmental, quality, efficiency, and energy-saving parameters at the highest standards.”