M/s Amreli Steel to set up plant for tower manufacturing
ISLAMABAD: Chief Executive Officer (CEO) Amreli Steels Limited Akber Ali, along with a four-member Chinese delegation from Jude Long Steel Power Group, met Minister of State and Board of Investment (BOI) Chairman Dr Miftah Ismail and BoI secretary Azahr Ali Chaudhary.
The chairman welcomed the delegation and highlighted the investment potentials and opportunities available for Chinese investors in Pakistan, specifically in tower manufacturing sector. Akberali informed that Amreli Steels Limited was one of the largest manufacturers of Steel Reinforcement Bars in Pakistan and is interested in setting up a plant for tower manufacturing in Pakistan.
This project will create approximately 2,000 jobs directly. He informed that there are some difficulties faced for setting up of our tower plant in Pakistan specifically procedural difficulties. MOS/Chairman, BOI assured them for full support from all concerned like NTDC, ministry of Water and Power etc. Chairman, BOI informed that government encouraging the private sector for setting up industries specially in Steel manufacturing in Pakistan, like your proposed project of tower manifesting unite i.e. electricity and wind power of small capacity to 1000 KV tower capacity. He also informed that laws have been tailored to safeguard and ensure protection of investments.
The foreign investment is fully protected under the Foreign Private Investment (Promotion and Protection) Act, 1976, and Protection of Economic Reforms Act 1992.At the end Dr. Miftah Ismail, Minister of State/Chairman, BOI thanked Abbas Akberali Chief Executive Officer (CEO), M/s. Amreli Steels Limited and his delegation, and appreciated their efforts and intention with regard to establishment of steel and tower manufacturing project in Pakistan and to boost investment, trade and economic relations between the two countries.
