A Czech group prepares to launch Euro 600 million steel venture in Pakistan.
An official announcement on Sunday said that a delegation of Santex Pakistan Limited (SPL) apprised Murad Ali Shah, Sindh Finance Minister, and Muhammad Zubair Motiwala, Chairman Sindh Board of Investment (SBI), in a meeting at the SIB about the establishment of steel billets making plant of 1.2 million ton capacity per annum and 300 MW coal-fired power plant. It said that the project would be launched at Bin Qasim, close to Pakistan Steel Mills.
Santex Pakistan Limited is a subsidiary of Santex Group based in Czech Republic.
The meeting was chaired by the Sindh finance minister along with chairman SBI and was attended by secretary finance, secretary coal and energy department, DG SBI and other government officials.
Brig (r) Ashraf, Executive Director SPL, further informed the participants that a cooperation agreement with the suppliers had been concluded and project financing had already been secured this month during the recent Bron International Trade Fair in Czech Republic.
“SPL has also arranged the full amount of equity for the project and is planning to formally announce the project during the month of October 2012 at a befitting ceremony in Prague,” he said.
Murad Ali Shah appreciated SPL for bringing such a huge project and FDI in Pakistan and assured complete support of the Government of Sindh in the project at all levels.
The SPL team expressed their complete confidence in Pakistan and thanked the minister and SBI for their patronage and assurance of support for this venture.
