Agha steel plan expansion

With a mega invest of Rs7 billion in second expansion phase; Agha Steel Industries will enhance its re-rolling capacity 160 percept. Working on the policy of the state-of-the-art Micro Mill Danieli Rolling Mill (MIDA) technology to cater to the rising demand for steel in the country, this will create a buffer zone in steel industry under the PM’s package for the construction industry and low-cost housing scheme and construction of dams project. Offering more than one-fifth of its shares to institutional and individual investors through an initial public offering, the company is offering 120 million shares with a face value of Rs10 each to investors. Husain Agha, CEO of Agha Steel Industries, highlighted mega project as; “With the arrival of MIDA technology, Agha Steel expects to be the first steel mill in entire Asia to have an endless casting and rolling plant.  Along with increasing the output of its final product, Agha Steel is also in the process of developing a market for high-grade billets in Pakistan”.