It is reported that China Metallurgical Group Corporation is planning a USD 2.2 billion investment for the expansion and revamping of Pakistan Steel Mills.
A delegation of MCC met with the Federal Minister for Industries and Production on this July 16th for the meeting of this investment. At the Phase I of the expansion project, MCC will build a new plant, a cost of USD 1.2 billion and USD 2 million tonnes of steel production capacity annually within 2 years.
At the Phase II, MCC will revamp and modernize the existing PSM plant. The Phase II will take another 2 years to complete and would cost around USD 1 billion and add another 1 million steel output a year.
The minister said that they are very interested in MCC’s proposals and will study the proposal in deep and will take a final decision on this project very soon.
Sourse From: http://www.steelguru.com/news/index/2009/07/15/MTAyMjI3/China_Metallurgical_Group_to_invest_in_Pakistan_Steel_Mills.html
Tuesday, July 14, 2009
China Metallurgical Group to invest in Pakistan Steel Mills
0 comments:
Post a Comment