International Steels Limited Becomes the Largest Cold Roller in Pakistan

International Steels Limited has begun production from its new plant to emerge as the country’s biggest cold roller with one million tons of output capacity and to shed reliance on steel inbound shipments that account for 10 percent of the country’s imports.

‘’ The company’s state of the art rolling mill has commenced production (from) 21 June, 2018. This addition has increased the rolling capacity of the company to 1,000,000 metric tons per annum,” the steel mill said in a statement on Wednesday to Pakistan Stock Exchange.

“With this expansion, ISL (International Steels) will be the largest producer of flat products in the country resulting in significant reduction in dependence on imported steel products as well as invaluable savings in foreign exchange.”

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Its competitor, Aisha Steel’s expansion is due in 2019, where increased capacity would be just shy 0.8mn tons.

This expansion will allow ISL to produce a greater amount of zinc coated or galvanised sheets which are further up the steel value chain.

International Steels will retain its monopoly on domestic production of galvanised steel up until Aisha’s expansion comes into play next year.
Analysts said the new capacity will cater to the growing demand in automobile, appliances, and construction industries.

International Steels, in a document, said the company will continue to strengthen its position in the domestic market while maintaining its export footprint due to improvement in regulatory climate.

ISL’s script at the bourse was trading at Rs102.80 which was up by 3.36% with a turnover of 1.19 million shares.