In a notice to the exchange, Agha Steel Industries Limited has notified that it has finalized an agreement to acquire a 50 cubic meter (m3) Blast Furnace, enhancing its backward integration capabilities alongside its existing Arc furnace. Furthermore, the company has established partnerships with iron ore mine owners in Khyber Pakhtunkhwa (KPK) to secure exclusive sources of raw materials for its blast furnace operations. The company plans to explore opportunities for exporting iron ore from these mines to international markets, contingent upon the commercial viability of international trade.
As per analysts, The installation of the blast furnace is expected to be completed within next six months and will bring efficiencies to the plant operations.
Agha Steel is principally engaged in manufacturing and sale of steel bars, wire rods and billets.
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