Korean firm keen to invest in iron ore
Demand for steel products expected to reach 14 million tons by 2015.
ISLAMABAD:
South Korean firm Posco, a global player in steel, energy and information technology, has shown interest in investing in Pakistan.
A six-member delegation of the company discussed this in a meeting with Engineering Development Board (EDB) CEO Aitazaz A Niazi on Thursday.
The company representatives were given an in-depth presentation on the steel sector of Pakistan and a case for establishing a steel mill at Kalabagh was presented to them. According to EDB, Kalabagh is a natural site to establish a steel mill as necessary raw material such as iron ore, coal and dolomite are within a radius of 13 km. It is expected that demand for steel products will be around 14 million tons against supply of around 10 million tons in 2015.
The delegation asked questions about infrastructure available at Kalabagh, including fuel and energy. Details of iron ore mines along with reserves and iron ore grades were also provided to the visitors.
Private sector industrialists have realised the deficiency and joined hands to establish an institution called Pakistan Iron and Steel Institute (PIASI). The objectives of the institute were highlighted and the company delegates were requested to provide assistance in establishing the institute by way of participation, technical assistance and providing equipment for a testing laboratory.
Published in The Express Tribune, April 1st, 2011.
South Korean firm Posco, a global player in steel, energy and information technology, has shown interest in investing in Pakistan.
A six-member delegation of the company discussed this in a meeting with Engineering Development Board (EDB) CEO Aitazaz A Niazi on Thursday.
The company representatives were given an in-depth presentation on the steel sector of Pakistan and a case for establishing a steel mill at Kalabagh was presented to them. According to EDB, Kalabagh is a natural site to establish a steel mill as necessary raw material such as iron ore, coal and dolomite are within a radius of 13 km. It is expected that demand for steel products will be around 14 million tons against supply of around 10 million tons in 2015.
The delegation asked questions about infrastructure available at Kalabagh, including fuel and energy. Details of iron ore mines along with reserves and iron ore grades were also provided to the visitors.
Private sector industrialists have realised the deficiency and joined hands to establish an institution called Pakistan Iron and Steel Institute (PIASI). The objectives of the institute were highlighted and the company delegates were requested to provide assistance in establishing the institute by way of participation, technical assistance and providing equipment for a testing laboratory.
Published in The Express Tribune, April 1st, 2011.