Pakistan's Naveena Group to Set Up 300,000 MTPa Steel Plant

Pakistan's Naveena Group of Industries announced that it is establishing 300,000 MTPA steel melting and re-rolling mill at Port Qasim in Karachi, Pakistan.

The company is targeting to start commercial production by Jun'19 resulting in the increased national capacity to fulfill the rising steel demand in the country apart from generating generating various employment opportunities.

"Naveena Steel Mills (Private) Limited (NSMPL) is being developed with a view that rapid urbanisation and industrialisation resulting from China-Pakistan Economic Corridor (CPEC) related infrastructure projects will increase the demand for steel in the country," the group said in a statement.

"The state-of-the-art metallurgical processes would enable NSMPL to produce better quality steel rebars with improved yield that would give them a competitive edge over the existing setups," the company said.

The statement said the project's proximity with port would result in cost-effective import of ferrous scrap, the raw material for the product.

Naveena group's core business is into textiles and has named this new venture as Naveena Steel Mills Pvt Ltd.

Upcoming steel capacities in Pakistan:

Dost Steel mill is an automated plant with an initial capacity of 350,000 tons per annum, which will produce hot-rolled, high tensile deformed steel bars.

Mughal Steel proposes to increase melting capacity by 396,000 MT. It is one of Pakistan's largest steel producer at 1.1 MnT.

Pakistan's Amreli Steel also plans to expand rebar capacity. The company Board has approved the 2nd expansion plan. The expansion will increase its annual capacity to 275,000 MT pa against current capacity of 180,000 MT pa.

Rising steel capacities in Pakistan will further boost ferrous scrap imports to the country. Pakistan imported around 4-5 MnT ferrous scrap in 2016-17 which is expected to increase to 5-6 MnT in 2017-18.