Karachi March 20 2025: Amreli Steels Limited extend suspension of its SITE Rolling Mill by another six months on economic constraints, according to company filing to the exchange.
SITE Rolling Mill represents 30 percent of the Company’s total production capacity.
“We wish to inform you that a comprehensive assessment of the prevailing operational and economic constraints affecting the documented steel sector has been conducted. Unfortunately, the conditions necessitated the temporary suspension of operations at the SITE Rolling Mill (SRM) have not only persisted but, in certain respects, have further deteriorated” states filing.
“In view of these circumstances, the temporary suspension of operations at the SRM has been extended for an additional period of six months. Upon the conclusion of this extended period, a reassessment of the situation will be undertaken, and any determination regarding the potential resumption of SRM’s operations will be subject to a demonstrable improvement in the broader business environment” the filing added.
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.
