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Ghadir Neyriz Steel Company was one of the 7 steel projects approved by the government delegation in 2007 with the aim of decentralizing steel production. The construction of a DRI plant with a capacity of 800 thousand tons and a steelworks with a capacity of one million tons began in 2007.

In 2014, an agreement was signed between the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) and Ghadir International Industries & Mines Development Company (Public Joint Stock) for investment and partnership in the construction, completion, and commissioning of the incomplete Neyriz Ghadir Steel Complex project. The agreement allocated 65% of the investment to the second party (Ghadir) and 35% to the first party (IMIDRO).

Ghadir Neyriz Steel Company is registered in the form of a joint stock company with the registration number 1300 and national ID 14004505206 in the Neyriz notary office.