Dost Steels notified the bourse that it has started commercial operations of its newly commissioned unit.
The notice said that the ‘’Commercial Operations of the company has been started from 28th of February, 2018 and it has also achieved its first sale also on the same date.’’
The company acknowledged the efforts of the Turkish and Italian consultants that were working on the site to help with the commencement.
The firm had gone through all the stages required to commission the rebar plant in December and January.
Analysts expect strong steel demand in coming years mainly due to robust growth in the construction industry and mega infrastructure projects related to the China-Pakistan Economic Corridor (CPEC).
The steel mill is a Greenfield automated plant with an initial capacity of 350,000 tons per annum, which will produce hot-rolled, high tensile, deformed steel bars.
DSL’s script at the bourse was trading at Rs 13.29, which was up by +2.15% from its previous closing with a turnover of 9.08 million shares.