International Steels Limited emerged as the biggest producer of cold rolled steel products in Pakistan
The production from the new plant of International Steels Limited (ISL) has begun, along with the growing rolling capability of the company by 1000000 metric tons. In Pakistan, ISL has arisen as the biggest producer of cold rolled steel products, as the production increases with an investment of Rs5.6 billion. In a statement to Pakistan stock Exchange (PSX) the steel mill reported that they are glad to announce the beginning of rolling mill from June 21, 2018, with the rolling capacity of 1000000 metric tons yearly. With this advancement, the requirement of imported products of steel and vital savings in foreign exchange would be lessen as in Pakistan, ISL will be the major producer of flat products.
In Feb 2017, the expansion plan was discussed by the company where ISL told about addition of products like Cold Rolling Mill, a Pickling line and linked services, organized through its own finances and long term bank loans. The sales of company hopped about 40% from 24.781 billion previous year to RS34.817 billion during the period and noted Rs3.234 billion profit in the last nine months ended March 31.