News & Events

Ground Breaking Ceremony Of The Induction Furnace Project

The ground breaking ceremony of 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 of promoting human dignity was set by TSML in the industrial culture of the country. Mr. Muhammad Nadeem was declared best of the best among the workers because of his 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, based on MIDREX process a state-of-the-art technology. The Induction Furnace Phase will be completed close to the completion of DRI plant, which will 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 Furnace Project 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 MW will 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. It would 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 that at 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 a steep 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 Pakistan he 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 help setting 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 Limited was 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.

Eng. Abdul Kalam, Vice Chancellor, NED University of Engineering and Technology said that there was a great need of coordination between the industry and the educational institutions. He said that the association between NED and TSML will go a long way in promoting such relationship.

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 exchange presently 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 (www.altuwairqi.com.pk) was also launched on this occasion and Mr. Abdul Rauf Siddiqui, Minister of Commerce & Industries, Government of Sindh pushed the button for this purpose.

Mr. Abdul Rauf Siddiqui, Minister of Commerce & Industries, Government of Sindh addressing the gathering on the occassion of the Ground Breaking Ceremony of the Induction Furnace Phase. Visible on the stage are (from left to right) Mr. Paul Max Love, Director (Projects) MIDREX, Mr. Riaz ul Haque, Director General Board of Investment, Mr. Tariq Barlas, Vice Chairman/CEO, Al-Tuwairqi Group of Companies, Mr. Abbas D. Habib, President Bank Al-Habib Limited, Engr. Abdul Kalam, Vice Chancellor NED University of Engineering & Technology karachi & Mr. Zaigham Adil Rizvi, Director (Projects), TSML, Pakistan.

Mr. Muhammad Nadeem a worker of Tuwairqi Steel Mills Limited alongwith Mr. Abdul Rauf Siddiqui, Minister of Commerce & Industries, Government of Sindh unveiling the foundation stone of the Induction Furnace Project. Visible next to the Minister are Mr. Tariq Barlas, Vice Chaiman/CEO, Al-Tuwairqi Group of Companies, Kingdom of Saudi Arabia & Mr. Zaigham Adil Rizvi, Director (Projects)- TSML.

Mr. Abdul Rauf Siddiqui, Minister of Commerce & Industries, Government of Sindh being presented a shield of TSML by Mr. Tariq Barlas, Vice Chaiman/CEO, Al-Tuwairqi Group of Companies.

Mr. Abdul Rauf Siddiqui, Minister of Commerce & Industries, Government of Sindh launching the website of Tuwairqi Steel Mills Limited, Karachi (www.altuwairqi.com.pk). sitting next to him is Mr. Tariq Hameed Incharge (IT) TSML

Ground Breaking of DRI Power Plant

Alongwith with Zaigham Adil Rizvi, Director (Projects) TSML, Akbar Habib, Group Chief Executive Officer, Oman National Investment Corporation Holding SAOG, visited the site of TSML at Bin Qasim on 17 April 2008 and performed the ground breaking ceremony of the DRI Power Plant on 17th April, 2008. Below are a few snaps taken on the occasion.

Agreement with AMZ Securities

Tuwairqi Steel Mills Limited (TSML) which is in the process of setting up a state of the art iron & steel producing out-fit at Bin Qasim in Karachi, with the designed capacity of 1.5 million tons per annum and an initial operational capacity of 1.28 million tons per annum of Directly Reduced Iron (DRI) & Billets, has mandated AMZ Securities (Private) Limited. (AMZ) to act as their Financial Advisor & Arranger to raise finance to cater to the project’s additional funding requirements. The funds raised will be utilized to finance the additional capital expenditure required for this project due to change in the scope of Phase-I and addition of an intermediate phase of the project till Phase-II. An agreement to this effect was signed between TSML, Director (Projects), Zaigham Adil Rizvi and Chairman AMZ Securities, Athar Naseem Sheikh, on behalf of their respective organizations on January 28, 2008. Mr. Zaigham Adil Rizvi thereafter briefed that TSML plans to commission the DRI plant in the Phase-I of the Project in the first quarter of 2009. The core part of the plant and machinery have been imported, major civil works completed and mechanical works are being carried out on fast track. He told that, keeping in view the local and international demand for the steel products, TSML has planned alongside the DRI Plant an Induction Furnace Project to produce 0.5 million tons per annum of Billets as an intermediary phase. He further told that TSML has also decided to put in place plans for the backward integration in steel manufacturing process and is aggressively pursuing the plan to set up a Pelletization Plant and exploration of local iron ore.

He further informed that, the steel complex will be utilizing the DRI process of Medrix Technologies USA owned by Kobe Steel of Japan. For Billet manufacturing in Phase-II, TSML would be employing “Electric Arc Furnace Technology” from Germany. He informed that Al-Tuwairqi Group (ATG) of Companies, of which Tuwairqi Steel Mills Limited is a component, is one of the leading private sector steel producer in the Kingdom of Saudi Arabia (KSA) and GCC Region. Mr. Athar Naseem Sheikh, Chairman (AMZ) speaking on the occasion said that this foreign investment which is the first in an infrastructure project in recent years, reflects the confidence of ATG in Pakistan, and will be helpful in attracting Foreign Direct Investment in the country for industrialization.