CPEC’s Hattar SEZ orders bar rolling mill
PESHAWAR: To enlarge its footprint in the growing regional market of infrastructure projects, Pak Steel at the Hattar Special Economic Zone (HSEZ) of Khyber Pakhtunkhwa (KP) has ordered a ‘bar rolling mill’ with a yearly production capacity of 45,000 metric tons.
“Pak Steel orders a new 450,000 metric tons per year rebar mill from Primetals Technologies, Italy. The plant is being installed at HSEZ,” according to Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZMIC).
Primetals Technologies has received an order from Pak Steel to supply a bar rolling to its site in HSEZ, according to the company’s official statement.
The mill will manufacture concrete reinforcement steel bars (rebars) with diameters ranging from 8mm to 40 millimeters. The design capacity will be 450,000 metric tons per year. The commissioning into operation of the mill is scheduled in the fourth quarter of 2022.
Pak Steel is one of the most prominent players of the Pakistani steel industry that focuses on the manufacture of concrete reinforcement bars as well as on light structural profiles. This expansion of 450,000 metric tons will boost the yearly production capacity to 650,000 metric tons and will enable Pak Steel to meet the rapidly growing steel demand in the country.
In July 2021, Chief Minister KP Mahmood Khan inaugurated the Pak Steel plant in HSEZ. The plant with an annual capacity of 500,000 tons will create 200 jobs for the local population.
The SEZs have contributed significantly to China’s development. Pakistan, being a friendly neighbor country to China and a member of BRI, is adopting SEZs for its economic growth by attracting domestic and foreign investment.
The SEZs are created, leveraging tax incentives to attract foreign investment that leads to technological advancement. Along with promoting value addition in exports, the SEZs also generate employment, encourage import substitution as well as mobilize foreign exchange in countries for Balance of Payment Support.