Persian Gulf Saba Steel Company was registered under No. 235853 dated 5 Dec. 2004 in Tehran Registry of Companies and Industrial Property and started its activity according to Article 2 of Articles of Association which declares subject of the company. Special zone has special privilege due to having port, rail, road, minerals unloading and loading equipment and adjacency to Gol-E-Gohar Iron Ore Mines which produce pallet in addition to iron ore and concentrate of iron ore and energy sources such as water, electricity and gas. The company was managed by Indian managers elected by its Indian shareholders till 16 Aug 2008 (Aria Infrastructure Holdings Limited AIHL) and made different decisions to execute projects and its capacity at different times with regard to political and economic conditions which unfortunately were not put into action. Management of the company was transferred to State Retirement Fund Investment Company since 16 Nov. 2008 and name of the company changed to Persian Gulf Saba Steel Company on the basis of approval of Extraordinary General Assembly dated 22 July 2009(it was formerly Asar Pars India Company ) . Now, IERITC Company took action regarding construction of a megamodule of direct recycle in midrex method with capacity of 1,5 million tons of HBI in the year in the first phase (production of 1,5 million tons of sponge iron ). This method is a set of chemical reactions between hydrogen and iron monoxide which are produced as result of metal iron. In this method, iron oxide is transferred to the handling and facility unit as pallet with use of wagon loader or truck and transferred from handling and facility unit by conveyor belt to silo and furnace and is furnace charged. The recycled pallet hereinafter called HBI is transferred to handling and storage unit by conveyor belt and will be ready for sale or carriage to melting unit. The recycled gas will be created with natural gas reframing inside the reframer and grouted inside reduction furnace. In addition to construction of this unit, other accessory installations such as oxide pallet transportation system, HBI handling unit, hot briquette production section, water purification and cooling system will be designed and executed.