ISLAMABAD – A Chinese company has expressed interest in establishing a steel mill with a million tonnes capacity in Punjab province.
A 10-member delegation of Ansteel International Trading Company showed its interest in its meeting with Punjab Board of Investment and Trade (PBIT), according to sources in Engineering Development Board here on Monday.
Ansteel, with presence in Australia, Spain and Italy, showed interest in setting up a mill in Chiniot or Kalabagh as these areas have iron ore and coal deposits. The officials assured the delegation of safety and security of investment and personnel.
The company has been promised easy access to raw materials such as water, limestone and coal as well as a steady supply of labourers and skilled workers who will be trained as per Ansteel’s requirements. The company would also be provided a 30-year lease in a mineral rich area with an easy option to keep extending the lease in 10-year installments.
