BAFL 50.00 Increased By ▲ 3.50 (7.53%)
BIPL 22.46 Increased By ▲ 1.31 (6.19%)
BOP 5.43 Decreased By ▼ -0.10 (-1.81%)
CNERGY 5.07 Increased By ▲ 0.17 (3.47%)
DFML 18.99 Increased By ▲ 0.17 (0.9%)
DGKC 80.18 Increased By ▲ 0.18 (0.23%)
FABL 33.03 Increased By ▲ 2.18 (7.07%)
FCCL 20.26 Decreased By ▼ -0.13 (-0.64%)
FFL 9.61 Increased By ▲ 0.05 (0.52%)
GGL 13.65 Decreased By ▼ -0.32 (-2.29%)
HBL 121.09 Increased By ▲ 3.14 (2.66%)
HUBC 122.34 Decreased By ▼ -1.46 (-1.18%)
HUMNL 7.98 Increased By ▲ 0.03 (0.38%)
KEL 3.97 Increased By ▲ 0.46 (13.11%)
LOTCHEM 28.05 Decreased By ▼ -0.50 (-1.75%)
MLCF 42.12 Increased By ▲ 0.02 (0.05%)
OGDC 121.85 Increased By ▲ 0.84 (0.69%)
PAEL 20.12 Increased By ▲ 1.28 (6.79%)
PIBTL 5.83 Increased By ▲ 0.13 (2.28%)
PIOC 116.39 Increased By ▲ 2.68 (2.36%)
PPL 110.71 Increased By ▲ 2.36 (2.18%)
PRL 29.58 Increased By ▲ 1.76 (6.33%)
SILK 1.09 Increased By ▲ 0.02 (1.87%)
SNGP 68.95 Decreased By ▼ -0.45 (-0.65%)
SSGC 13.77 Increased By ▲ 0.52 (3.92%)
TELE 8.79 No Change ▼ 0.00 (0%)
TPLP 14.67 Increased By ▲ 1.02 (7.47%)
TRG 90.65 Decreased By ▼ -1.29 (-1.4%)
UNITY 27.25 Increased By ▲ 0.59 (2.21%)
WTL 1.62 Increased By ▲ 0.05 (3.18%)
BR100 6,648 Increased By 104.2 (1.59%)
BR30 23,568 Increased By 358.1 (1.54%)
KSE100 64,718 Increased By 800.4 (1.25%)
KSE30 21,594 Increased By 242.4 (1.14%)
Business & Finance AGHA (Agha Steel Ind.Ltd) 15.84 Decreased By ▼ -0.25%

Agha Steel says it intends to export iron ore from KPK mines

  • Has also entered into contract for acquisition of 50 cubic meter blast furnace for backward integration with its existing arc furnace
Published September 14, 2023

Agha Steel Industries Limited (AGHA), a manufacturer of steel bars, wire rods, and billet, said that it intends to export iron ores from mines in Khyber Pakhtunkhwa to international destinations.

The company shared its intention in a notice to the Pakistan Stock Exchange (PSX) on Thursday.

“The company has partnered with iron ore mine owners in KPK for exclusive raw material supply for its blast furnace,” read the notice. “The company intends to export iron ore from these mines to the international market, based on the commercial viability of the international trade,” it added.

In addition, Agha Steel also announced that it has entered into a contract for the acquisition of a 50 cubic meters (m3) blast furnace for backward integration with its existing arc furnace.

Agha has an annual melting capacity of 450,000 metric tons and an annual rolling capacity of 250,000 metric tons. The company represents one of the largest private sector investments in the steel industry of Pakistan.

As per the company’s latest financial results, it posted net sales revenue of Rs5,689 million during the quarter ended March 2023 compared to Rs6,145 million in the corresponding period of 2022.

Gross profit stood at Rs1,373 million as compared to Rs1,428 million in the corresponding period, primarily attributable to overall inflation in the industry.

The construction sector has been under stress in the past few months with rising power tariffs and high interest rate hindering prospects of growth.

A delegation of the Pakistan Association of Large Steel Producers (PALSP) recently met with caretaker Federal Minister for Energy Muhammad Ali and his team during his visit to Karachi.

The delegation included leading members of Karachi-based steel manufacturers, including Hussain Agha from Agha Steel, and briefed the Minister about the challenges of the steel sector with respect to the energy/electricity areas.

Members of the delegation expressed their concerns over the high cost of inputs, especially electricity, which is placing immense pressure on industries and requires urgent attention for a sustainable resolution.


1000 characters
Ahmed zeb Sep 14, 2023 07:51pm
The logistics cost from KP to Karachi port is prohibitive . Unless that is subsidised __ export of meaningful quantities will not be feasible !!
thumb_up Recommended (0) reply Reply
Junaid Habib Sep 14, 2023 11:08pm
Export of raw iron ore is not desired.One should go for value added steel products
thumb_up Recommended (0) reply Reply
Hemant Chaturvedi Sep 14, 2023 11:28pm
I m interested iron ore investor or buyer have me iron ore mines. Good information steel industry thanks
thumb_up Recommended (0) reply Reply
Riaz Hashmi. Sep 15, 2023 06:18am
Good news for the country . We hope the other steel manufacturer National steel complex and ambereli steel also needs to extend its steel manufacturing facility . Pakistan steel also required to privatise.
thumb_up Recommended (0) reply Reply

Agha Steel says it intends to export iron ore from KPK mines

Pakistan’s future is ‘very bright’: IMF officials laud improvement in economic situation

Bulls dominate as KSE-100 hits new peak above 64,700

Inter-bank: rupee secures marginal gain against US dollar

Death toll in Gaza reaches 17,177: health ministry

Open market: rupee unchanged against US dollar

Denmark passes bill to stop Holy Quran burnings

Illegal foreigners impact Pakistan’s security, economy: COAS

Al-Azizia case: IHC says will hear Nawaz’s appeal on merit

Death toll from fire at Karachi’s Ayesha Manzil rises to 5

Saudi crown prince, Russia's Putin stress need for OPEC+ to commit to deal