Mughal Iron and Steel Announces Major Upgrade to Enhance Production Capacity

Karachi: Mughal Iron and Steel Industries Limited has announced the approval of a major upgrade to its existing steel bar re-rolling mill as part of its corporate strategy to boost production and market diversity. The Board of Directors has greenlighted the balancing, modernization, and replacement (BMR) of the facility, transitioning it to a dual-purpose rolling mill capable of producing steel rebars and medium sections.

The BMR project is set to transform the operational dynamics of the mill, significantly increasing its capacity utilization. Once the upgrades are completed, the mill will be able to produce an estimated 8,000 to 10,000 tons of medium sections per month. This enhancement not only expands the company’s product range but also bolsters its market presence.

According to information available from the Pakistan Stock Exchange (PSX), the designated market category for this announcement falls under ‘material information’ due to the substantial impact on the company’s production capabilities and financial standing. The total capital expenditure for this project is projected at Rs. 2,000 million.

The strategic upgrade aligns with Mughal Iron and Steel’s objectives to strengthen its competitive position in the industry by diversifying its product and market portfolio through enhanced capacity utilization.

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