Business Recorder reported that Pakistan’s first private sector integrated environment friendly steel manufacturing project with Direct Reduction Iron technology will start production in January next year.
Mr Zaigham Adil Rizvi director project of Tuwairqi Steel Mills Limited told media that Saudi Arabia has invested almost USD 400 million and South Korean steel giant POSCO invested USD15 million as collaborator with Al Tuwairqi Holding
He said that “The project will serve as a catalyst for industrial growth in Pakistan. A revolution of industrial growth is on the cards with the beginning of its production.”
Terming steel as vital for economic development of any country, he said that TSML was Pakistan’s first private sector integrated environment friendly steel manufacturing project.
He said “Its production, would not only give environment-friendly atmosphere and meet country’s steel requirements but also create huge job opportunities for technical and skilled labour force of Pakistan.”
He added “Currently Pakistan is relying on imports while producing heavy mechanical structures and engineering goods but after producing high quality steel at TSML plant, Pakistan would be able to manufacture such heavy equipment locally that could also be exported to fetch valuable foreign exchange.”
