According to the official, the agreement is aimed at preparing one of Iran’s largest ports for the 55-million-ton annual steel production and trade target set for the industry in 2025. The transportation company’s stakeholders include Mines and Metals Development Investment Company, Omid Investment Bank, Iran’s two main iron ore producers Golgohar and Chadormalu mining and industrial companies, Iran’s largest flat steel producer Mobarakeh Steel Company and the flagship shipping company Islamic Republic of Iran Shipping Lines, according to Financial Tribune. Shahid Rajaee Port, located 23 kilometers west of the port city of Bandar Abbas, the capital of Hormozgan Province, has the capacity to handle up to 3.3 million TEUs (20-foot equivalent units) of containerized cargo per year, Bourse 24 reported.