A ship carrying 55,000 metric tonnes of iron ore for Pakistan Steel Mills (PSM) reached Port Qasim Pakistan Steel Jetty from Australia.
The cargo unloading was started through the 4.2 km conveyer belt from the jetty to Pakistan Steel raw material stockyard. The PSM opened LC of $ 8.3 million to M/S Cargill International for the ship arrived Thursday.
According to a PSM spokesman, present management of Pakistan Steel was making arrangements for maintaining timely supply chain of raw material and floated several tenders for iron ore out of which 3 tenders were finalised and the first shipment of 55,000 MT iron ore in the current year arrived successfully.
Besides all these efforts, the usage of local iron ore is also on-going to run the production wheel. The spokesman said according to recently signed contracts, arrival of further shipments of iron ore in coming days is also expected. He added that this continuity in the supply chain of raw materials will help PSM to increase its production utilisation, and overcome other issues.
Pakistan Steel has succeeded in signing 3 contracts, each of 55, 000 MT iron ore with 2 companies of Singapore including M/S Cargill and M/S Swiss Singapore.