The Tuwairqi Steel Mills Limited (TSML), is a vertically integrated multinational Steel mill, based in Karachi, Sindh, Pakistan.[1][2]
| Company type | Private |
|---|---|
| Industry | Steel mill |
| Headquarters | Karachi , |
Area served | Nationwide |
Key people | Hilal H. Al-Tuwairqi (Chairman) Zaigham Adil Rizvi (Project Director) Zaigham Adil Rizvi Young-Ho Yoo (Resident Director) |
It was General Pervez Musharaf on whose request Dr. Hilal H. Al Tuwairqi from Kingdom of Saudi Arabia as a brotherly gesture decided to Invest in the Steel Sector of Pakistan. Initially Al Tuwairqi Holdings tried their luck by bidding for Pakistan Steel Mills Limited. With almost 395 Million USD as highest bid the company was ready to reset the pace and progress of Pakistan Steel Mill but the Workers Unions, Underworld Mafias moved in with proclaims that the bidding was unfair and illegtimate. Workers union backed by political activists like Mumraiz Khan took privitization commission and the Tuwairqi Management to courts before they could actually take charge of Pakistan Steel Mill. With involvement of the Presidents Office some headways were made through local courts but Chief Justice of Pakistan Iftikhar Chauhdry reversed complete process. So much so, the establishment in Pakistan and the supreme court came to a dagger drawn situation. Ultimately it was courts writ that was implemented. However, Musharaf tried his best to engage Saudi invetsors. Dr. Hilal Tuwairqi took another bold decision of setting up yet another and a state of the art (Brand New Steel Mill - DRI Plant) in Pakistan next to Pakistan Steel Mill. The work started in 2003 on a deserted patch south of PSM. Engineers and Experts came all the way from USA, Japan, Korea, Iran, India, Germany, Phillipines, Western Indies, Venezveula, Egypt, Saudi Arabia, China, Newzealand, Hungry, Turkey and many other countries. It was one of the most significant Heavy Industry Project in the History of Pakistan.
An environmentally friendly and established by a private sector, the steel mill is co-financed by the Al-Tuwairqi Holdings (Saudi Arabia), POSCO (South Korea) [3][4][5] and the Arif Habib Group owners of downstream facility Aisha Steel Mills (Pakistan), and currently aiming to compete against the Pakistan Steel Mills (PSM) at the Karachi Stock Exchange (KSE) indexes. The steel mills is well expanded over an area of 220 acres (0.89 km2) at Bin Qasim, Karachi and employs the world's most advanced DRI (Direct Reduction of Iron) technology of the MIDREX process owned by Kobe Steel of Japan.
Pakistan refused to supply the gas to the company and Saudi Arabia decided to provide the gas to the company on cheaper rate. The Tuwarqi Management warned to disassemble and shift the plant to Saudi Arabia.[6][7][8] The Karachi Chamber of Commerce and Industry (KCCI) President Iftikhar Ahmad Vohra requested Federal Minister Ishaq Dar to resolve the issue of gas supply to the TSML.[9]
Capacity
editIts production capacity is 1.28 million tons of steel per annum.[10]
See also
editExternal links
editReferences
edit- ^ "Tuwairqi Steel Mills Limited". tuwairqi.com.pk.
- ^ "Tag Archives: tuwairqi steel mills". The News Tribe. Retrieved 12 May 2016.
- ^ "Tuwairqi Steel to lay off 1,000 workers". DAWN. January 29, 2015. Retrieved 12 May 2016.
- ^ Shahab Nafees (September 14, 2014). "Tuwairqi Steel offers 7pc equity to govt". Dawn. Retrieved 12 May 2016.
- ^ Desk, Web (September 28, 2013). "'Tuwairqi Steel Mills: An industrial icon strengthening the bond between South Korea and Pakistan'".
{{cite web}}:|last=has generic name (help) - ^ Zafar Bhutta (January 24, 2015). "Shifting operations: Saudi Arabia offers cheaper gas to Tuwairqi Steel". The Express Tribune. Retrieved 12 May 2016.
- ^ Zafar Bhutta (November 27, 2014). "Tuwairqi Steel warns: If gas doesn't come cheap, company will pack up". The Express Tribune. Retrieved 12 May 2016.
- ^ "Gas supply row: Al Tuwairqi plans to shift steel plant to Saudi Arabia". The Express Tribune. January 15, 2015. Retrieved 12 May 2016.
- ^ Monitoring Report (December 5, 2014). "KCCI seeks power supply to TSML at Rs123 per MM [million] BTU". Customs Today (newspaper). Retrieved 12 May 2016.
- ^ Hussain Ahmad Siddiqui. "Nervousness-of-steel". The News. Retrieved 12 May 2016.
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