KARACHI: Amreli Steels Ltd informed the Pakistan Stock Exchange (PSX) on Monday about the second phase of its expansion plan and its current status.

Its board approved the second phase of the expansion plan on April 20. On the existing expansion of the billet-manufacturing capacity from 200,000 tonnes per annum to 400,000, the company said the plant has been commissioned and its commercial operation declaration has been achieved.

Regarding the increase in the steel-melting capacity for making billets from 400,000 tonnes per annum to 600,000 in Dhabeji, the company said financial close is achieved with a total cost estimate of Rs1 billion. Its commercial operation declaration is expected by June 2018.

Giving the status regarding the increase in rolling mills in Dhabeji for making rebars from 300,000 tonnes per annum to 425,000, the company said the expansion is in progress with a total cost estimate of Rs500 million.

Its commercial operation declaration is expected together with that of the new rolling mill in Dhabeji is November 2017.

Published in Dawn, August 29th, 2017