Tuwairqi Steel Mills Limited has signed an MOU with POSCO Engineering, with a commitment to promote local engineering services and infrastructure development in Pakistan.

At a ceremony held at the TSML Head Office, Mr. Lee Geun Ha VP of POSCO Engineering met with Mr Zaigham Adil Rizvi director projects TSML and signed the agreement which will see the 2 companies work in collaboration on a number of large-scale engineering projects.

Mr Geun Ha said that "By signing this agreement, we are optimistically looking forward to a collaboration that bears great results. We recognize the potential of growth in Pakistan and through our mutual efforts, we will undertake infrastructure projects where POSCO will offer complete technical supervision and commissioning support."

The MoU sets up an alliance between POSCO Engineering and TSML Engineering to meet the requirements of the relevant upcoming projects in Pakistan. POSCO Engineering will provide the necessary technical supervision and commissioning support to TSML E. TSML E will be serving as a Design & Fabrications Partner for POSCO's EPC needs in the region.

Furthermore, TSML-E will be providing market intelligence to POSCO in related projects. POSCO Engineering is currently interested in pursuing projects related to infrastructure in the energy, power and civil infrastructure.

In September 2011, POSCO which is the world's third-largest steel-manufacturer and Al Tuwairqi Holding of Saudi Arabia, signed a landmark Joint Venture agreement for the project of Tuwairqi Steel Mills Limited. Tuwairqi Steel Mills Limited is Pakistan's first private-sector integrated steel manufacturing facility located at Port Qasim.