AMRELI STEELS Approves Expansion ‘The first million-tonne quality rebars manufacturer’

Sure about its phase – I expansion almost online this year, Amreli Steels Limited has approved next phase of expansion which, as the company claims would become the first million-tonne quality rebars manufacturer of the country. The Board of Directors approved phase – II of the expansion plan of the company that was announced at the Pakistan Stock Exchange (PSX). For technical feasibility, the board has also invited bids from technical consultants of international repute. The final selection will be made in May 2017. The approval of expansion is subject to the approval of technical feasibility and successful financial close of the proposed transaction. Also, the Board approved an increase in steel melting capacity at Dhabeji under which billets making would be raised from 400,000 to 600,000 tonnes per annum. Moreover, the approval as regards an increase in rolling mill capacity at Dhabeji would take rebar making from 300,000 to 425,000 tonnes per annum. The Board also approved increase in rolling mill capacity at SITE, Karachi for making rebars from 180,000 to 325,000 tonnes per annum. The targets would be achieved in FY 18-19. After expansion, the company will boast a total rebar capacity of 750,000 tons per annum. Shayan Akberali, the Managing Director at Amreli Steels Limited, said that the expansion will further enhance the footprint of Amreli Steels Limited across the country by supplying quality Rebars for infrastructure development and fulfilling needs of retail customers across Pakistan. The company has decided to embark on phase – II of capacity expansion in view of rising construction activity in the country, believed to sustain high growth over the next decade.