KARACHI: Amreli Steels Ltd on Monday signed a contract with Primetals Technologies to build a steel bar manufacturing facility with a capacity of 300,000 tonnes per year.

The expansion, with an approximate cost of Rs3 billion, would enhance the company’s total steel bar capacity to 0.5 million tonnes per year and would also create jobs, Amreli Steels Managing Director Shayan Akberlai said.

He further said that the company was financing the project through initial public offering scheduled next month.

Primetals Technologies is a joint venture between Siemens, VAI, Mitsubishi and have manufacturing facilities in the US, Italy and China, said its Senior Sales Manager Sergio Galimberti.

Published in Dawn, July 28th, 2015

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