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  SMI received its first approval of licensing by virtue of resolution number 13 dated 26.11.2006 under investment law number 10 which offers a 5 years tax exemption starting as of actual production date in addition to many other privileges and benefits. The license was given for the construction of a scrap (local or imported) melting plant with the aim of producing steel billet and rebar. SMI was registered as a Closed Shareholding Company on 18.10.2006.

SMI decided to locate its project in Damascus country side at Adra Industrial City, about 53 kms away from the center of Damascus over a total area of 245,000 sqm. The total area is divided over 3 lots of land, the first was dedicated for the scrap yard and the administration building, the second was dedicated for the melt shop, auxiliary plants ad rolling mill, the third was dedicated for the power generation plant.