Karachi-based Pakistan Steel Mills (PSM) has announced that its current production capacity has reached 45 percent of 1.1 million mt per year in December, while it is aiming to achieve more than 50 percent capacity utilization during January 2015.
The company indicated that equipment repairs at the steelmaking unit have been completed and this is expected to further help to achieve a higher production target.
Furthermore, Pakistan Steel Mills stated that the loan to be used in procuring raw material to boost production up to 60-70 percent level is expected to be received by next week and an order for raw material will be placed immediately.