South Aluminum Corporation (SALCO) has been established in 2003 in comply with developing energy-intensive industries and macroeconomic policies based on the fifth Iranian Development Plan With the aim of taking advantage of The country’s huge gas reserves, job creation,alleviation of the poverty, export development and getting more added value.
51 % of the company’s stocks belong to Ghadir Investment Company and 49 % remainder belongs to Iranian Mines & Mining Industries Development & Renovation Organization (IMIDRO).
The project will be developed in 3 phases with capacity of 1 million t/y primary aluminum and aluminum alloys. The contract of project’s phase 1 with capacity of 300,000 t/y has been signed with NFC from China in 2011 as an EPC contract. Moreover, L/C of the project has been opened and its executive operations has been started and is in process