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KARACHI, Jan 22: Al-Ittefaq Steel Products Company (ISPC) has signed a memorandum of understanding (MoU) with the government of Pakistan through the Ministry of Investment for the backward and forward integration of Tuwairqi Steel Mills Limited (TSML).
The estimated investment on these projects would be around $900 million and would allow for the development of steel and infrastructure industry in Pakistan.
Forward integration would be a further value addition through a Melt Shop, producing world standard steel grades, while backward integration would be to the extent of exploring iron ore locally in Balochistan, its beneficiation and pelletization as well.
