Japanese steelmaker Marubeni-Itochu Steel Inc. has announced that it has entered into an agreement with Pakistan-based manufacturer of automotive parts and components Dawood Engineering (Pvt.) Ltd to jointly establish a new steel processing company in Bin Qasim Industrial Park outside of Karachi City in Sindh Province, Pakistan, with the new company to be the country's first fully-fledged steel product processing center.
According to Marubeni-Itochu Steel, the new company, MID Pakistan Coil Center (Private) Ltd, will process and sell steel products. Operations are scheduled to commence in July 2015, with an annual processing capacity of approximately 70,000 mt.
MID Pakistan Coil Center will provide high-caliber services through the processing and sales of steel products, meeting the needs of local customers in the automobile, motorcycle, electric appliance and building materials fields, as well as the highly diversified demands of Japanese companies slated to expand to Pakistan.