Metal One Starts Construction of Cold Rolling Mill in Pakistan

Metal One, Japanese major steel business house, announced on Friday Aisha Steel Mills which is joint cold rolling company in Pakistan did the groundbreaking ceremony. Metal One constructs cold rolling mill which has the capacity of 220,000 tonnes per year with Universal Metal which is Pakistani steel sheet business house and local company with the investment of 5.972 billion Pakistani rupees or about 11.5 billion yen and will start the operation in June 2009. Metal One breaks into high grade cold rolled steel sheet market in Pakistan and get the expanding demand for automobile and home electronics. The firm will produce zinc coated steel sheet for automobile in the future.Aisha Steel’s capital fund is 1.792 billion Pakistani rupees which is 49% of Universal Metal, 26% of Metal One and 25% of Arif Habib which is major securities house in Pakistan. They secure land of 200,000 square meters in near Kalach. New cold rolling plant has pickling line and Cold rolling mill of Steel Plantech which is Japanese engineering maker, uses overseas hot rolled coil and produces cold rolled steel sheet with the size of below 0.6 millimeters thick.Steel demand is expanding in Pakistan which keeps economic growth of 6-7%. Cold rolled steel sheet demand is about 500,000 tonnes per year. Domestic production volume of cold rolled steel sheet is only about 140,000 tonnes. All steel sheets which is below 0.6 millimeters thick is imported in Pakistan.