Pakistan's Mughal Steel to Ramp up Rebar Capacity to 1 MnT
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Mughal Steel, one of the largest steel maker in Pakistan signs key contract with Italy based Nuova Carpenteria Odolese (NCO) to increase rebar production.
Presently, Mughal Steel had rebar production capacity approx 688,000 MT per annum which will increase to 1,000,000 MT (1 MnT) after the contract is signed.
As the production are ramped up, the company will become the country's largest rebar producer, it has reached the capacity of 1 mntpa.
NCO is the technology supplier and has their plants worldwide in approx 40 countries.
There are other major steel giants in Pakistan who are in line to boost up productions; Agha Steels Pvt Ltd and Amreli Steel are of them.
The steel producers in Pakistan are expecting that finished steel demands in the country to grow up as there are more infrastructure projects lined up.
Notably, under China-Pakistan Economic Corridor (CPEC) and forthcoming one belt, one road trade round is the biggest project of them.
Hence, to fulfill domestic demand, the millers in the country are all set to ramp up steel capacities. In the last fiscal year, Pakistan's rebar production reported at 7.0 MnT.
