TSML is located at the Port Qasim over an area of 220 acres. The mill, built at a cost of $342 million, will produce 1.28 million tons per year of Directly Reduced Iron in the first phase. PHOTO: FILE
Speaking at the inauguration of Tuwairqi Steel Mills (TSML), Pakistan’s first private-sector integrated steel manufacturing complex, Ashraf said Pakistan treated domestic and foreign investors alike by allowing full foreign business ownership and profit repatriation with minimal terms and conditions.
A joint venture of Al-Ittefaq Steel Production – a subsidiary of Al-Tuwairqi Holding, Saudi Arabia – and South Korea-based Posco Limited – the world’s fourth largest steel maker by market value – TSML is located at the Port Qasim over an area of 220 acres. The mill, built at a cost of $342 million, will produce 1.28 million tons of Directly Reduced Iron (DRI) per year in the first phase.
With its forward integration to a melt shop, the complex will start producing steel slabs and billets in the second phase. Local mining of iron ore and its beneficiation and pelletisation will constitute the third phase of this project.
World crude steel production in 2011 was 1.49 billion tons whereas Pakistan’s share in it was approximately 4.5 million tons. Moreover, the per-capita consumption of steel in Pakistan is 38 kg as opposed to the global average of 215 kg, which shows enormous potential for growth in the local steel industry.
While Pakistan produced 4.5 million tons of steel in 2011, the estimated annual demand in the country is 7.63 million tons. TSML’s plant is the first DRI plant installed in Pakistan, as Pakistan Steel Mills uses blast furnace technology.
Advantages of using DRI include a low amount of sulphur and phosphorous, better nitrogen control and continuous automatic charging that increases furnace productivity by up to 20%.
Speaking on the occasion, Al-Tuwairqi Holding Chairman Dr Hilal Hussain Al-Tuwairqi said his company considers Pakistan as a land of opportunities and is committed to taking part in the economic development of the country.
Published in The Express Tribune, January 13th, 2013.
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Al-Tuwairqi and Al-Ittefaq is partly owned by Mr. Nawaz Shareef who invested in Saudi Arabia in 1989 as well as again in 2002 after exile.
Raja Rental inaugurates a steel mill set up by Mr. Nawaz Shareef's invested company. What more proof do you need??
may be TSML can be used as a benchmark for Pakistan Steel specially for employee cost per ton, productive man hours/ton etc.
Now you know why Pakistan Steel Mill is being destroyed by the Government.