KARACHI, Jan 12: The largest billet making Saudi company Al-Tuwairqi Group of Companies on Monday discussed possibilities for setting up a billet making plant in Pakistan with the officials of Pakistan Steel.

According to an announcement here on Monday, the delegation led by group vice-chairman and CEO Tariq Barlas held initial talks with the director technical services, Pakistan Steel, Talha Saeed.

The ten-member delegation also discussed the availability of 200 acres of land from Pakistan Steel for establishing the plant, water, electricity, oxygen gas, security, offices and residential facilities near the plant.

Besides, they discussed commercial and marketing aspects of producing billet in Pakistan. The delegation was told that the setting up of billet plant was feasible within the premises of Pakistan Steel due to its proximity to sea port, railway line and highways. The presence of infrastructure of Pakistan Steel will further reduce the cost of production of billet at the proposed plant.

Al-Tuwairqi Group of companies is one of the leading business concerns in Saudi Arabia and has made a phenomenal growth in the last two decades as it entered the list of top 100 companies in the Kingdom in 1999. The Group has agreed to invest $100 in Pakistan in steel mill area at Port Qasim.

The Group has the increased its rated capacity of the re-rolling mills to about 750,000 tons per annum. Al-Tuwairqi Group operates the largest steel re-rolling mills in the private sector in Gulf Cooperation Council area.-APP