It is learned that Saudi-based group Al Tuwairqi Holding and its subsidiary company Tuwairqi Steel are to start their new plant in Pakistan from first week of January 2013. The new plant is based on the state-of-art technology DRI is also the first one in the history of Pakistan. The company has invested US$350 million in the first phase and will invest another US$680 million in the next phases; the designed production capacity is 1.5 million tons a year. According the spokesman of Tuwairqi Steel, the new plant would ensure 86% utilization of natural gas and the company would also help increase the steel consumption per capital in Pakistan. In Pakistan, per capital steel consumption is only 38kg compared to world average of 175kg. Moreover, annual steel demand in the country stands at around 8.4 million tons compared to total steel production of 4.9 million tons in the country.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62177&division=A9
