Islamabad—Amreli Steels Limited which is one of the largest manufacturers of steel reinforcement bars is interested in setting up of plant for tower manufacturing in Pakistan. This was stated by Chief Executive Officer M/s Amreli Steels Limited, Abbas Akber Ali who called on Minister of State and Chairman Board of Investment (BOI) Dr. Miftah Ismail here on Monday. He along with four members of Chinese delegation from Jude Long Steel Power Group China visited Board of Investment to explore investment opportunities existing in different sector of national economy.
Abbas Akber Ali informed that Amreli Steels Limited is one of the largest manufacturers of steel reinforcement bars and further interested in setting up of plant for tower manufacturing in Pakistan. This project will create approximately 2,000 jobs directly. He informed that there are some difficulties faced for setting up of tower plant in Pakistan specifically procedural difficulties. The Chairman welcomed the delegation and highlighted the investment potential and opportunities available for Chinese investors in Pakistan specifically in tower manufacturing sector of Pakistan.
He assured them for full support from all concerned like NTDC, Ministry of Water and Power and informed that government encouraging the private sector for setting up industries specially in steel manufacturing in Pakistan like proposed project of tower manifesting unit, electricity and wind power of small capacity to 1000 KV tower capacity. He also informed that laws have been tailored to safeguard and ensure protection of investments. The foreign investment is fully protected under the Foreign Private Investment (Promotion & Protection) Act, 1976, and Protection of Economic Reforms Act 1992.