Karachi June 23 2022: The Board of Directors of Amreli Steels Limited in their meeting held today, Thursday, 23 June 2022, has approved investment into no n-ferrous operations as a first step to diversify the Company's business portfolio.
The stock gains PKR 1.89 or 7.49% to hit upper limit at PKR 25.99 per share after the announcement
The approval includes establishing a new facility for producing aluminum ingots with initial production ca pa city of 18,000 MT per annum as a first phase. The detailed
technical feasibility has been conducted along with the financial close.
Amreli Steels Limited was incorporated in 1984 as a private limited company and converted into a public unquoted company in 2009. The Company is mainly engaged in manufacture and sale of steel bars and billets.