China-Pakistan’s Joint Venture Pak-China Steel Mill Commences Production
Pak-China Steel (PCS), the first joint venture between Chinese Jianbang Group and Pakistani Consortium has commenced its operations in Karachi on Saturday.
PCS was established in March this year with an investment of USD 12 million to cater to the demand for crude iron (pig iron) by local industries which is currently being imported from other countries due to the closure of Pakistan Steel Mills. The company is majorly focused on catering to the infrastructure needs of the private sector particularly China-Pakistan Economic Corridor (CPEC).
The installed production capacity of the plant is 8,000 tonne of pig iron per month which will be further expanded. The coal-fired blast furnace is the first facility in the private sector of the country which utilizes the indigenous iron ore extracted from the mines of Balochistan. While raw materials such as iron ore and limestone are local, metallurgical coke is imported.
Singapore based company Leon Overseas is acting as a third party by establishing a laboratory of international standards at a cost USD 0.3 million to enable PCS to check the quality of the product's efficiency within 24 hours. In addition, comprehensive tests are being conducted to ensure the quality of pig iron.
The project has provided employment opportunities to 200 locals while some 60 Chinese nationals are providing technical support to run the plant. Jianbang Group is based in Shanxi China and now entered into Pakistani market to cater the domestic demand.
Pak China Steel's director Li Felix said this is the first collaboration of Pakistan and China in the steel sector and in the next phase, the management is planning to setup billet plant to cater the domestic demand.
source: SteelMint
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