ISLAMABAD: Century Steel (Private) Limited, invested by Fujian Yuanhongxin Investment Company Limited will provide Pakistan with an annual output of 1.5 million tons of steel.
According to a media report, Century Steel is the first enterprise established in the Rashakai Special Economic Zone (SEZ) in Khyber Pakhtunkhwa (KPK) under China-Pakistan Economic Corridor (CPEC). The company aims to build a three-phase project i.e. production of
construction steel, production of wire rod (iron wire, nail, screw, welded
mesh, round bar) and production of profile steel (H steel, L steel, Channel steel).
According to All Pakistan Chinese Enterprise Association (APCEA), the
completion of these three phases will provide social employment of at least 1,000 people with great economic and social benefits.
Century Steel Limited is an experienced Chinese company engaged in the investment, production, and operations of Iron and Steel enterprises
overseas. The company has a registered capital of 100 million yuan.
Century Steel plans to invest $50 million in Rashakai Special Economic Zone. The project will consume 45MW electricity. Resources from China have been mobilized and Chinese engineers and personnel have already set up a site office to execute the project without delay.