Lahore August 26, 2021: Mughal Iron and Steel Limited has informed the BMR of girder re-rolling mill has been completed, as per notification issued at Pakistan Stock Exchange (PSX).
The Company had recently announced 16 percent right issue with the purpose of equity financing its ongoing BMR of bar re-rolling project by retiring various long-term and short-term debts obtained on temporary bridge financing basis.
A L S O || R E A D
Chinese Steel Mill Margin Remain Robust As Iron Ore Fall Sharply
Right issue will not only result in improving the capital structure and Shariah compliance of the Company but will also result in improved profitability due to decrease in markup cost and decrease in taxation expense due to availability of tax credit (65E) for next 5 years in respect of operations of new bar mill.
