Chinese company interested in setting up steel plant in Punjab

[Muhammad Omar]

LAHORE: A Chinese company on Wednesday expressed interest in establishing a steel mill with a million tonne capacity in Punjab during a meeting with the Punjab Board of Investment and Trade (PBIT).

A ten-member delegation of Ansteel International Trading Company met with Minister for Mines and Minerals, Chaudhry Sher Ali Khan, Minister for Industries, Choudhry Shafique, PBIT Chairman Abdul Basit and PBIT CEO Amena Cheema at the board’s headquarters, a press release said.

Ansteel, with presence in Australia, Spain and Italy, showed interest in setting up a mill in Chiniot or Kalabagh as these areas have iron ore and coal deposits.

Officials assured the delegation of safety and security of investment and personnel.

The company has been promised easy access to raw materials such as water, limestone and coal as well as a steady supply of labourers and skilled workers who will be trained as per Ansteel’s requirements.

The company would also be given a 30-year lease in a mineral rich area with an easy option to keep extending the lease in 10-year installments.

 

[Pandora]

NOw you know why steel mills was destroyed and plans were to hand it over to PPP so that no nut or screws remains behind . Nawaz shareif at his best coruption karey to koe aisi jahan har koe tareifein karay kay banda investment laya hai

 

[volatile]

NOw you know why steel mills was destroyed and plans were to hand it over to PPP so that no nut or screws remains behind . Nawaz shareif at his best coruption karey to koe aisi jahan har koe tareifein karay kay banda investment laya hai

It is going to be investment ,Steel mill was destroyed in 2000 during Uncle Musharaf Era .If for instance this is his B company local jobs will be provided with addition to GDP .Be positive

 

[Pandora]

It is going to be investment ,Steel mill was destroyed in 2000 during Uncle Musharaf Era .If for instance this is his B company local jobs will be provided with addition to GDP .Be positive

No i am positive mate. I know we cant get rid of deep rooted corruption but if they are skimming money but still creating job opportunities then that is a Win for Pakistanis in current situation. Expecting too much is a waste of time.

 

[Max Pain]

how about this very same Chinese Company should Buy the Shares of Pakistan Steel Mills instead,
if they make another Steel Mill, it would compete with PSM and PSM is already in her very tough times.

 

[Muhammad Omar]

how about this very same Chinese Company should Buy the Shares of Pakistan Steel Mills instead,
if they make another Steel Mill, it would compete with PSM and PSM is already in her very tough times.

They are interested to Setup this factory in Chiniot or Kalabagh where they found Iron Ore and Copper Deposits