Amreli Steels

Amreli Steels Limited
Amreli Steels Limited[1]
Formerly
  • Amreli Steels (Pvt) Ltd
  • Amreliwata Hardware Industries[2]
Public
Traded as PSX: ASTL
Industry Steel
Founded 1972 (1972)
Headquarters Karachi, Pakistan
Area served
 Pakistan
Key people
 Shayan Akberali (Managing Director)[3]
Products Rebar[4]
  • IncreaseRs 1,600,000,000 (2018)
  • DecreaseRs 1,070,000,000 (2017)
Website www.amrelisteels.com
Footnotes / references
Net income, 2017[4]; net income, 2018[5]

Amreli Steels is a publicly-held Pakistani company which manufactures steel products.[6] It is based Karachi, Pakistan.[7]

It was founded in 1972 and is named after Amreli District, Gujarat, India from where their ancestors migrated to Pakistan.[7]

As of 2013, the company's production capacity was estimated to be 150,000 tonnes,[2] which by 2017 had increased to 180,000 tonnes.[8] In 2018, the company established a new production facility in Dhabeji with a 400,000 tonnes capacity.[5] A strategic goal of the firm has been to be the first Pakistani company to reach annual production of 1 million tonnes of rebar product.[3]

Amreli transitioned from a private to public firm in 2015, when it was listed on the Pakistan Stock Exchange following an initial public offering in October 2015.[8]

In 2017, the company invested Rs 1.04 billion (effectively a 65% equity stake) in a joint venture company, Huijintong-Amreli (Pvt) Ltd, based in Pakistan with the Chinese company Qingdao Huijintong Power Equipment Company Limited, which designs and manufactures power transmission line towers.[8] This provides an inroad for the Chinese company into Pakistan, and provides an end-use for Amreli's steel.[8]

References

  1. ↑ "Financials". Pakistan Stock Exchange Limited. ASTL. Retrieved 13 October 2018.
  2. 1 2 OECD (2014). Developments in Steelmaking Capacity of Non-OECD Economies 2013. OECD Publishing. p. 347. ISBN 9789264194380. OCLC 893648930 – via Google Books.
  3. 1 2 "Amreli Steels okays expansion in melting capacity". The Nation. Nawaiwaqt Group. 21 April 2017.
  4. 1 2 "Amreli Steels' profit slides 16%". The Express Tribune. Karachi, Pakistan. 29 August 2017.
  5. 1 2 "Amreli Steels reports 48% surge in profit for FY18". The Express Tribune. Karachi, Pakistan. 13 September 2018.
  6. ↑ "Amreli Steels okays expansion in melting capacity".
  7. 1 2 "Corporate History - Amreli Steels Limited". amrelisteels.com.
  8. 1 2 3 4 Zaheer, Farhan (21 November 2017). "Amreli Steels announces joint venture with Chinese company". The Express Tribune. Karachi, Pakistan.
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