Pakistani steelmaker Dost Steels Limited (DSL) has taken a significant step toward restarting operations by signing a PKR 2.08 billion ($7.2 million) loan restructuring agreement with a consortium of banks, according to a stock exchange filing by the company. Idle since 2019, DSL hopes to resume its rebar production activities following this financial breakthrough.
Key financial terms of the deal
| Component | Value |
| Total restructured debt | PKR 2.08 billion ($7.2 million) |
| Quarterly installments | 16 |
| Down payment | PKR 50 million ($175,000) |
In addition to the loan deal, DSL recently announced a rights issue worth PKR 4.45 billion ($15.6 million), as previously reported by SteelOrbis. The raised capital will be used for installing a billet-producing melting furnace and strengthening working capital reserves.
DSL has an annual rebar capacity of 350,000 mt. The producer has not provided a specific timeline for restarting production.