Persian Gulf Saba Steel Company (PGSSCO)

Missions and Foresights

As per Article 2 of the Memorandum of Association, Persian Gulf Saba Steel Company (PGSSCO) is intended to purchase all types of minerals, lease mines, perform all affairs related to mines and minerals, launch all metals and non-metals projects, and export and import all kinds of raw materials, intermediate (semi-finished) goods, coated or non-coated finished metal and non-metal goods, all types of minerals, pellets, billets, galvanized steel, and different metal products for use in the market, processing of iron ore, zinc, etc.

PGSSCO's position in the industry

As a section of the Iranian Steel Comprehensive Plan (ISCP), Persian Gulf Saba Steel Project has been included in Iran's Vision Policy of 2025. According to studies, if the country's vision-oriented long-term goals are realized, the raw steel produced in Iran will exceed 55 million tons annually.

To achieve this, the required mechanisms have been undertaken to allow the country well responding to the annual national economic growth rate and reach an admirable position in the region and the global steel market. A significant portion of the billet is currently imported, concerning the limited manufacturing capacity of the major manufacturers and the country's demand for this product. However, as per ICSP, and sections covering steel manufacturing in the Iranian 4th and 5th Five-year Development Plan (FYDP), most of the specified factories will manufacture blooms and billets, allowing to realize the import substitution policy by relying on the country's potential and raw materials available.

Global market studies reveal that the manufacturing and trading inclination has targeted developing steel industries in areas rich in energy and iron ore, such as the Middle East and Iran.

As such, the country's relative advantages and demand for national economic developments entail achieving the goals in the national plans to develop the steel industry. Additionally, since the steel ingot intended in this plane is of excellent quality for export, it will bring valuable economic opportunities for the shareholders to laugh all the way to the bank. Most notably, executing the project and exploiting PGSSCO as a national plan allows recruiting over 10,000 human resources directly from Hormozgan and other neighboring provinces.