Mega Ocean carrying 55,000 metric tons of metallurgical coal from Australia has berthed at Pakistan Steel Mills Jetty, Bin Qasim on Friday. Another ship Mega Lohori, carrying 55,000 metric tons of metallurgical coal from Australia has also reached at the outer anchorage of Port Qasim.
It is pertinent to mention here that this is the first shipment of 110,000 metric tons of metallurgical coal to be received by PSM with the help of the received amount of Rs 4.2 billion from the approved financial restructuring package of Rs 18.5 billion from the Government of Pakistan.
The arrived raw material will help in increasing the production level to 20 percent in July and in achievement of subsequent targets set by the GoP - 77 percent by January 2015. However, the timely release of financial facilities will be of pivotal importance. It is also pertinent to mention here that one more iron ore L/C for 50,000 metric tons will be opened on July 07, 2014.-PR
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