It is a good news for the people of violence-plagued city that the Tuwairqi Steel Mills will start production in January next year.
Express Tribune reported:
Tuwairqi Steel is a state-of-the-art environment-friendly steel manufacturing facility, which employs world’s most advanced DRI technology based on the Midrex Process, owned by Kobe Steel of Japan. With a designed production capacity of 1.5 million tons of high-quality DRI per annum..
In the first phase, Tuwairqi Steel, whose complex is spread over an area of 220 acres at Port Qasim in Karachi, has invested $350 million.
In the second phase, the company will invest $380 million in electric arc furnace and continuous caster technology and in the third phase it will inject $300 million into a pellet plant.
The opening of the new steel will give a great boast to the business activity in the city and create thousands of jobs.