GROUND BREKING CEREMONY OF THE INDUCTION FURNACE PROJECT
Karachi, May 14, 2008: The ground breaking ceremonyof the Induction Furnace Project of Tuwairqi Steel Mills (TSML), which would produce 0.3 million tonnes of steel per annum, was performed at an impressive ceremony at Bin Qasim, Karachi on May 14, 2008.Mr. Abdul Rauf Siddiqui, Minister for Commerce and Industries, Government of Sindh was the Chief Guest on the occasion.
Those who were present on the stage included Mr. Tariq Barlas, Vice Chairman and Chief Executive of Al-Tuwairqi Group of Companies (ATG), Kingdom of Saudi Arabia,Mr. Paul Max Love,Director (Projects) MIDREX, Engr. Abul Kalam, Vice Chancellor NED University of Engineering & Technology Karachi,Mr. Riaz-Ul-Haque, Director General Board of Investment,Mr. Abbas D. Habib, President Bank Al – Habib Limited and Mr. Zaigham Adil Rizvi, Director (Projects) Tuwairqi Steel Mills Limited (TSML).
With the permission of the Chief Guest, the foundation stone of the project was however, unveiled by Mr. Muhammad Nadeem a physically challenged worker.Thus a new tradition pertaining to the dignity of labour was set by TSML in the industrial culture of the country. Mr. Muhammad Nadeem was declared best of the best among the workers because ofhis dutifulness inspite of his disability.
The Induction Furnace Project is an intermediary phase of the 1.28 million ton per annum capacity Tuwairqi Steel Mills,basedon MIDREX process a state-of-the-art technology.The Induction Furnace Phase willbe completed close to the completion of DRI plant,whichwill provide Direct Reduced Iron (DRI) for steel making to the Furnace.The DRI plant is expected to be completed in the 1st quarter of 2009, at a cost of around US $ 265 million. The Induction FurnaceProject also includes the installation of a power plant of 60MW capacity,while for the DRI plant a power plant of 25 MW capacity expandable to 35 MWwill be installed.
Addressing the esteemed audience present on the occasion Mr. Abdul Rauf Siddiqui, Minister for Commerce and Industries,hoped that the setting up of Tuwairqi Steel Mills would help in boosting the steel making industry in Pakistan. Itwould also provide job opportunities in hundreds. He said that his ministry is keen for the promotion of investments in the industry and would provide all possible support to private enterprises, especially to steel manufacturing industry as it is the back-bone of the engineering industries.He further said, “We are blessed with plenty of natural as well as quality human resources, hence investment opportunities are vast and investors can gain fruitful results by investing here.”He also promised to provide maximum support to Tuwairqi Steel Mills, removing any possible hurdle in the completion of the project.
Vice Chairman and Chief Executive of Al-Tuwairqi Group of Companies Mr. Tariq Barlas said thatat present the world steel trade stood at US$ 1.5 trillion. Whereas, Pakistan’s share in this trade was only 0.4 percent.This meant that Pakistan has a long way to go to achieve due share in the world steel trade. He said that during the last 9 years Al-Tuwairqi had exhibited tremendous growth and its steel trade size had reached US$ 5 billion from US$ 25 million. He said that if Al-Tuwairqi Group of Companies could make such asteep progress why the steel industry in Pakistan could not follow the suit whereas there was a great potential and opportunity of its growth.
Assuring that ATG will do its best to promote steel making industry in Pakistanhe asked the private sector to come forward,take the lead and go for long-term investment policies instead of looking for favorable political circumstances. He said, “We employ latest technology that helps producing cost-effective products and this is the secret of our success”. He told that Al-Tuwairqi Group has developed some in-house facilities to helpsetting up steel plants.This facility could cut 30 percent cost and could save almost 1 year of setting up time. He told that for TSML construction steel and electrical items were being provided by ATG from its own resources.
Mr. Paul Max Love, Director Projects, MIDREX said that Tuwairqi Steel Mills Limitedwas one of the most enthusiastic companies that he has ever worked for. “We are pleased to have such a huge project in Pakistan and are interested to deploy more of our technologies in other regions of this country. It is an honor for MIDREX to be partner with TSML for their project,” he said.
Mr. Riaz ul Haq, Director General, Board of Investment said that Tuwairqi Steel Mills Limited was an important project to promote the economy and industry of the country and the Board will provide all possible help in its establishment and the setting up of other such projects.
Mr. Zaigham Adil Rizvi, Director (Projects) TSML briefed about the vision, objectives and future plans of the company. He said that the management of Tuwairqi Steel Mills Limited, believes in the development of human resources and regards its work-force as a great asset. He said that Pakistan is rich in human talent which coupled with the natural resources will produce excellent results. “Steel prices are increasing at a rapid pace globally and by producing maximum possible steel products locally, Pakistan can save huge amount of foreign exchangepresently spent on imports. We are integrating the best technologies from around the world, in order to produce the best steel this country can have that too at reasonable prices,” he said.
The website of Tuwairqi Steel Mills Limited ( was also launched on this occasion and Mr. Abdul Rauf Siddiqui, Minister of Commerce & Industries, Government of Sindh pushed the button for this purpose.