Naveena Group to establish steel production plant at Port Qasim

Author: Staff Report

KARACHI: The Naveena Group has announced to enter into the business of steel production by establishing a 300,000 TPA (tonnes per annum) steel melting and re-rolling mill at Port Qasim of Karachi named as Naveena Steel Mills (Private) Limited (NSMPL).

Naveena Group of Industries is engaged in fabric manufacturing business as the company produces all kinds of plain fabric, twills, drills, duck, satin, dobby, etc.

Talking to Daily Times, company’s spokesman said the project is being developed in view of the bright prospects of Pakistan’s economy, rapid urbanization and industrialization in the country due to upcoming infrastructure projects like China Pakistan Economic Corridor (CPEC) which will increase the demand for steel in the country.

The proximity of the land with port will result in cost effective import of scrap which is the raw material for the product giving the project a clear advantage over its competitors. The land is sufficient for the company to double its production capacity conveniently when considered expedient in future.

He further added that the project consists of setting up of Steel Melt Shop and Rolling Mill to produce steel rebars. The company has already finalized its contract with one of the top European suppliers of machinery which aims to introduce state of the art metallurgical processes for the first time in Pakistan that will enable NSMPL to produce better quality of steel rebars with improved yield giving it competitive edge over the existing setups.

Published in Daily Times, March 10^th2018.