Punjab plans setting up steel mills with Australian company


The Punjab government has planned the establishment of a steel mills under Public-Private Partnership with an Australian company.
The steel mills has been planned to be set up in Chiniot where huge reserves of iron ore have been discovered. According to Punjab Mines and Minerals Secretary Amir Ijaz Akbar, the department has sent the case for agreement to the federal government. He said that huge reserve of 250 million tons have discovered in Chiniot and the proposed steel mills will be established there in view of the reserves.
The secretary informed that the steel mill, a joint venture under public-Private Partnership, will be completed at a cost of $1.5 billion. He said that the steel mills will help generate employment opportunity, especially for locals.
It will be, in fact, a great opportunity to utilize local resources for best production of iron and other products, which will fulfil local needs on the one hand and earn precious foreign exchange from exports for the province and country on the other hand.

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