Mughal Steel to Increase Its Load on the Grid by 3 Times

In a recent notice to the bourse, Mughal Iron & Steel Industries Limited has announced that they will expand their existing Grid Load from 20 Mega Watts to 60 Mega Watts.

The company informed that it has received a load sanction from Lahore Electric Supply Company (LESCO) and is expected to be fully operational by the 3rd Quarter of 2018.

Mughal Iron informed the bourse that the said load sanction is a significant milestone for the company. The expansion will enable the company to strengthen its industry positioning by eliminating energy constraints to facilitate short-term and long-term expansion and growth plans.

MUGHAL’s script at the bourse closed at Rs. 60.84, up by +3.24% with a turnover of 1.27 million shares

Mughal Iron & Steel Industries Limited manufactures and trades in mild steel products in Pakistan. The company offers ferro manganese, ferro chrome, and silicon manganese products; mild carbon, spring steel, stainless steel, and alloys steel billets; and long rolled products, such as deformed bars, re-inforcement bars, and thermax bars, as well as I beams, angle sections, T bars, and C channels.

Its products are used in hi-tech industrial complexes; infrastructural projects comprising power and energy, roads and bridges, and dams/generation and distribution networks; and economic housing solutions.