KARACHI: Naveena Group, a conglomerate dealing in textile exports, spinning, wind power and other business sectors, on Sunday announced the launch of Naveena Steel, its green field steel plant located at Port Qasim, Karachi.
The group will be introducing its Italian plant with Pakistan’s first induction heating system using the revolutionary direct rolling technology to consistently produce international standard pure steel rebars for all types of construction.
The group had announced the initiation of work on the plant during March 2018.
“Naveena Steel Mills (Private) Limited (NSMPL) is being developed with a view that rapid urbanisation and industrialisation resulting from China-Pakistan Economic Corridor (CPEC) related infrastructure projects will increase the demand for steel in the country,” the group had said in a statement at the time of initiation.
“The state-of-the-art metallurgical processes would enable NSMPL to produce better quality steel rebars with improved yield that would give them a competitive edge over the existing setups,” the group had further stated in the statement.
Naveena Group plans to benefit from the plant’s proximity with the port which would result in cost-effective import of scrap steel, the raw material for the product.
Growing consumer needs have entered Pakistan into an era of modern construction ideas based on global standards. This new era requires expertise, modern technology, quality and precision and according to Naveena Group its new plant will be a stepping stone in that direction.
With a focused vision and an innovative approach, Naveena Steel is here to set a new benchmark for quality and trust that gives rise to innovative planning, new-age architectural ideas and designs adding new strength to the country’s growth and prosperity,” said a statement issued by the group on Sunday.