55,000mt Australian iron ore for Pakistan Steel arrived – 8.3million $ LC opened, more contracts signed, PSM spokesman

55,000mt Australian iron ore for Pakistan Steel arrived – 8.3million $ LC opened, more contracts signed, PSM spokesman


Karachi, February 21, 2013 (PPI-OT): A ship carrying 55,000 metric tons of iron ore for Pakistan Steel reached Port Qasim Pakistan Steel Jetty after a long journey from Australia. The unloading of iron ore has been started through the 4.2 km conveyer belt from Port Qasim Jetty to Pakistan Steel raw material stockyard. PSM opened LC of 8.3 Million dollars to M/S Cargill International for this ship, which arrived today at PS Jetty.

According to PS Spokesman present management of Pakistan Steel is making arrangements for maintaining timely supply chain of raw material and floated several tenders for iron ore out of which 3 tenders finalized and first shipment of 55000 MT iron ore in the current year arrived successfully.

Besides all these efforts the usage of local iron ore is also keep on going to run the production wheel. Spokesman said that according to the recent signed contracts arrival of further shipments of iron ore in coming days is also expected; he added that this continuity in the supply chain of raw materials will help PS to increase its Production utilization, and overcome other issues also.

Pakistan Steel has succeeded in signing 3 contracts, each of 55, 000 MT iron ore with 2 companies of Singapore including M/S Cargill and M/S Swiss Singapore. Out of these 3 contracts the first shipment reached by M/S Cargill International whereas according to second contract M/S Cargill will supply 55,000 MT iron ore from Mauritania, the third contract with M/s Swiss Singapore 55,000 MT iron ore from Oman will be delivered to PS after the completion of necessary documentations and opening of LCs soon.

Pakistan Steel spokesman said that the present PSM Chief Executive Officer Major Gen (r) M Javed has successfully stepped forward by achieving the basic and important targets for the revival of PSM and delivering his best just to enhance and overcome the shortage of raw material.

Spokesman told that management highly appreciated the patience of employees during this hard time with resolving the salary issue of PSM through the sale of its products and released the salaries of its Employees. He assured that the salary pay slips will be issued today.

For more information, contact:
Pakistan Steel Mills Corporation (PVT) LTD.
Pakistan Steel Bin Qasim
Karachi 75000
Tel: +92 – 21 -9 9264222 +92 – 21 – 34750271
Fax: +92 – 21 -34750156
Email: info@paksteel.com.pk



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