Santex Pakistan Limited (SPL) are to build a 1.2Mt/y billet plant at Bin Qasim close to Pakistan Steel Mills. SPL is a subsidiary of Santex Group based in Czech Republic.
Muhammad Ashraf, Director SPL, informed Sindh Provincial Finance Minister Murad Ali Shah, and Muhammad Zubair Motiwala, Chairman, Sindh Board of Investment, that a cooperation agreement has been concluded and project financing has been secured on 10 September 2012. The announcement was made during the recent Brno International Trade Fair in Czech Republic.
SPL has also paid the full amount of equity for the project and is planning to formally close the financial arrangements in October at a ceremony in Prague.
The EAF steelplant will generate its own electricity using a coal based 300MW plant which will have excess capacity of more than 150MW to be made available to the national grid.
Commissioning is expected by June 2015.