Pakistan is the World's Fastest Growing Steel Producer

[VCheng]

Is the steel being produced from actual iron ore or merely by re-melting broken up ship scraps?

 

[Cookie Monster]

Yeah “fastest growing steel producer”...these threads are embarrassing.

Pakistan sucks and there’s no two ways about it. Nothing to be ashamed off. Just put down your heads and work hard as a nation till we make it, Inshallah.

But opening threads like this for mental masturbation is just plain embarrassing. C’mon, let’s not try to copy indians now

I would be happy as long as Pak can meet its own demands of steel so that Pak wouldn't have to import it from other countries. Any excess that allows export would be a plus...but there's other bigger players already exporting plenty of steel.

 

[Viking 63]

5 million tons is a big joke !!

 

[Thorough Pro]

He is not claiming to be the largest producer, rather "fastest growing" referring to production in year 2017 compared to production in 2016. And why is it a surprise? with so many infrastructure projects of building highways, bridges, tunnels, dams, power plants in addition to steel, cement and other construction related materials would also see phenomenal growth.

I hope and pray that this trend continues for another 10 years.

Yeah “fastest growing steel producer”...these threads are embarrassing.

Pakistan sucks and there’s no two ways about it. Nothing to be ashamed off. Just put down your heads and work hard as a nation till we make it, Inshallah.

But opening threads like this for mental masturbation is just plain embarrassing. C’mon, let’s not try to copy indians now

 

[xyxmt]

But what became of our Steel Mill that Russia helped us set up?

they are busy Hiring PPP workers

 

[SoulSpokesman]

The fun is not in being the largest producer of steel, but its consumer. Steel industry actually adds very little value and creates few jobs in relation to the amount of capital and resources it consumes, an the pollution it generates.

Consumption is the name of the game and with CPEC just getting off, the party is about to begin in Pak.

Regards

 

[RiazHaq]

Investors and businesses do not care for nationalism and bragging rights.

They look at cold, hard numbers.

Steel demand in Pakistan is currently about 10 million tons a year and growing at 25-30% a year.

Half of it was met by local production while the rest was imported in 2017.

Pakistani production is growing at 40%, faster than 25-30% growth in demand.

And the current capacity expansion plans of Pakistan's local industry are geared to grow fast enough to do import substitution, not exports.

Why not exports? It's because there's a worldwide steel glut right now and prices are plummeting.

China and others are trying to dump their steel in other countries and triggering anti-dumping duties.

There's no appetite for investing in new steel capacity for exports in a tough international environment.

 

[RiazHaq]

Egyptian Billionaire Eyes Further #Pakistan #RealEstate Projects - Bloomberg #Islamabad #housing


https://www.bloomberg.com/news/arti...re-eyes-further-pakistan-real-estate-projects

Naquib Sawiris is developing a $2b estate in Islamabad
Pakistan faces a housing shortage as its population expands

Egyptian billionaire Naguib Sawiris’s Ora Developers will next month start building a luxurious $2 billion housing estate on the outskirts of Islamabad and is eyeing further projects as it taps demand from overseas Pakistanis.

The ‘Eighteen Islamabad’ development will feature more than 1,000 homes, a golf course and a mall on 2.25 million square meters of land. It will take six years to complete, said Tarek Hamdy, chief executive officer of the development. Sawiris holds 60 percent in a joint venture with local firms Kohistan Builders and Developers and Saif Group, owned by Pakistan’s prominent Saifullah family.

Pakistan’s real estate sector has seen a boom in recent years as militant violence has receded. Economic growth in the nation of more than 200 million people has risen to around 5 percent as China finances more than $50 billion on infrastructure projects across the country. House prices have more than doubled since 2011, according to property website Zameen.com, and housing projects are mushrooming in cities such as Karachi, Lahore, Islamabad and Peshawar,

“The market isn’t saturated,” Hamdy said in an interview at his office next to Islamabad’s Margalla hills, adding that Sawiris’s firm is eyeing potential other projects that may be announced by the end of this year.

Prices for a three bedroom home on the estate start at 30.5 million rupees ($275,395) and about $400 million will be invested in the development in the first two years, Hamdy said.

‘Highest Quality’
“You can develop a project at very reasonable margins” between 10 to 40 percent, he said. “The highest quality still makes money.”

Sawiris is not new to Pakistan. He previously set up one of Pakistan’s first mobile phone companies, Mobilink, now the nation’s largest cellular firm by subscriber numbers.

Apart from private businessmen such as Malik Riaz Hussain who is building Pakistan’s largest development outside Karachi, the military’s housing business has sped up efforts to grab market share. Hamdy sees overseas Pakistanis particularly in the U.S., U.K. and Middle East as major buyers and is considering launching another housing project by the end of 2018.

A shortage of housing units will boost construction activity in Pakistan as the urban population grows by nearly 30 million by 2027, BMI Research said in a December report. Construction has been one of the largest recipients of foreign direct investment and in the first seven months of this fiscal year $380 million was invested in the sector, according to central bank data.

 

[t_for_talli]

5 million tonnes? seriously?
My uncle works for a steel company in tier 2 city in Chhattisgarh and it produces 7.5 Million Tonnes steel yearly

 

[Baby Leone]

5 million tonnes? seriously?
My uncle works for a steel company in tier 2 city in Chhattisgarh and it produces 7.5 Million Tonnes steel yearly

stop your tier 2 sh!t you ignorant indian, as most of the Pakistani Steel companies are not even in tier 3 cities its in remote sites.
the good thing is that the capacity is increasing and its now fastest growing but as usual any good news and Indians and some Pakistanis are not able to digest it and divert the topic.

 

[Mumm-Ra]

5 million tons is a joke. That is worth one ship, few pots and couple of spoons. Wtf? Even sanctioned Iran knocks off 21 million tons. Look at Vietnam. And India has what you call steel industry at 100 million tons.



Economies of scale suggest one plant should pour out 20 million tons. In Pakistan it's other way around. 20 million steel plants to make one million ton. What a joke.

There is more iron reserves in my body then in Pakistan. Hell by Pakistan standards I have steel industries inside me !

Step by step now. First learn again to walk and then run. You probably know more than me on the wretched condition of Pakistan's steel manufacturing capacity and capability for the last twenty something years. Give it a little time. Let's see where it will be in the next 5 years.

 

[Torch_v2.0]

That means ,
Pakistan is experiencing a real growth !

 

[t_for_talli]

stop your tier 2 sh!t you ignorant indian, as most of the Pakistani Steel companies are not even in tier 3 cities its in remote sites.
the good thing is that the capacity is increasing and its now fastest growing but as usual any good news and Indians and some Pakistanis are not able to digest it and divert the topic.

Good news ???
5 Million tonnes per annum for a country like Pakistan, might be good news by your standards
But in real world Vietnam produces 10 MMTPA, IRAN 21 MMTPA, & Mexico 20 MMTPA