A delegation comprising Zaigham Adil Rizvi, Chief Operating Officer Tuwairqi Steel Mills Limited and Young Ho Yoo President POSCO called on the Finance Minister Senator Ishaq Dar here on Friday to discuss issues related to their plant at Port Qasim.
Young informed the Finance Minister that ESML is state of the art direct reduction of iron (DRI) plant set up at Port Qasim Karachi in January 2013. It is based on world's most advanced technology and has a capacity of 1.28 MTPY.
The current investment in the plant is around US $340 million. The future objective of the company is to enhance this investment to around US $1.2 billion. The Finance Minister was further informed that the plant has not been in operation since September 2014 due to various reasons. The Finance Minister assured the delegation that the Ministry of Industries and FBR will consider their issues sympathetically in order to facilitate FDI in Pakistan.-PR
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