Local media reported that China-Pakistan JV Alhaj Asia Star Steel Co is set to resume production after overcoming initial difficulties. Asia Star Steel Deputy Chairman Mr Zubair Khan is uoted as saying “We faced hurdles due to specific dynamics of Pakistani market and the economic uncertainty triggered by Covid-19 pandemic, which forced us to shut the plant. However, we are all set now with a renewed marketing strategy and our Chinese partner is determined to resume production soon.Aisha Steel was established in 2012 as JV between Pakistan’s Arif Habib Ltd and two Japanese firms. However, Arif Habib later acquired the majority of shares. Alhaj Steel is the largest private-sector joint venture in steel industry between HEBEI Xingang Iron & Steel Group of China and Alhaj Group of Pakistan. The JV has set up a high-quality 60-grade steel manufacturing unit at Gadoon Industrial Estate in Swabi district of KP province with installed capacity of 1,500 tonnes per day, or 0.5 million tonnes per year. Alhaj Steel started commercial operations in late 2020 and suspended production after a few months in early 2021.The JV aims to enhance the capacity up to 2 million tons per annum in the second phase to become the largest steel manufacturer in Pakistan after state-run Pakistan Steel Mills in Karachi, which is presently non-operational. The firm is the second largest private sector steel manufacturer with the present capacity after Aisha Steel Mills, which has an installed capacity of 0.7 million tons per annum.
Local media reported that China-Pakistan JV Alhaj Asia Star Steel Co is set to resume production after overcoming initial difficulties. Asia Star Steel Deputy Chairman Mr Zubair Khan is uoted as saying “We faced hurdles due to specific dynamics of Pakistani market and the economic uncertainty triggered by Covid-19 pandemic, which forced us to shut the plant. However, we are all set now with a renewed marketing strategy and our Chinese partner is determined to resume production soon.Aisha Steel was established in 2012 as JV between Pakistan’s Arif Habib Ltd and two Japanese firms. However, Arif Habib later acquired the majority of shares. Alhaj Steel is the largest private-sector joint venture in steel industry between HEBEI Xingang Iron & Steel Group of China and Alhaj Group of Pakistan. The JV has set up a high-quality 60-grade steel manufacturing unit at Gadoon Industrial Estate in Swabi district of KP province with installed capacity of 1,500 tonnes per day, or 0.5 million tonnes per year. Alhaj Steel started commercial operations in late 2020 and suspended production after a few months in early 2021.The JV aims to enhance the capacity up to 2 million tons per annum in the second phase to become the largest steel manufacturer in Pakistan after state-run Pakistan Steel Mills in Karachi, which is presently non-operational. The firm is the second largest private sector steel manufacturer with the present capacity after Aisha Steel Mills, which has an installed capacity of 0.7 million tons per annum.
