Pakistan’s first private sector integrated environment-friendly steel manufacturing project with Direct Reduction route of Iron (DRI) technology will start production in January next year.
Saudi Arabia has invested almost $400 million and South Korean steel giant POSCO invested $15 million as collaborator with Al Tuwairqi Holding for success of Tuwairqi Steel Mills Limited (TSML), Zaigham Adil Rizvi (TSML) Director Project talking to APP here on Sunday.
The project will serve as a catalyst for industrial growth in Pakistan, he said and added that a revolution of industrial growth is on the cards with the beginning of its production.
Terming steel as vital for economic development of any country, he said that TSML was Pakistan’s first private sector integrated environment-friendly steel manufacturing project.
He further said that owing to environment-friendly production process and consistent high quality of product, DRI technology is widely being used in the world.
Its production would not only give environment-friendly atmosphere and meet country’s steel requirements but also create huge job opportunities for technical and skilled labour force of Pakistan.