Pakistan’s Beco Steel to diversify into steel rebar production, plans 5MW solar plant

Beco Steel Limited (BECO) has announced plans to diversify its operations into the production of deformed steel bars, marking a major step in its long-term expansion and growth strategy.

The listed company disclosed the development in its notice to the bourse.

The steel-maker said it currently operates in both ferrous and non-ferrous segments, catering to both local and export markets. It added that sales continue to show a positive growth trajectory, while the company remains debt-free, operating without any borrowings from financial institutions.

“In line with its long-term expansion and growth strategy, and in anticipation of future steel demand, the company has decided to diversify into the production of deformed steel bars,” read the notice.

“This will be achieved through the installation of a state-of-the-art steel furnace and continuous casting mill, with an annual production capacity of 72,000 tons of rebars.”

Moreover, to enhance cost-efficiency and sustainability, the company also plans an addition of 5MW solar power plant as part of the expansion.

The company shared that the entire project will be self-financed, with no external borrowings. The Chief Executive Officer (CEO) has already acquired the land required for the expansion, while project execution is scheduled to commence in early 2026, it added.

Beco Steel Limited, formerly known as Ravi Textile Mills, is incorporated in Pakistan as a public limited company.

BECO is an integrated steel producer with products ranging from scrap to billet to various end products, including speciality steel.

Back in July, the company successfully shipped its first export consignment of copper ingots to Hong Kong, China, marking a successful milestone in its expansion plans.