Agha Steel Industries Limited announced on Thursday that it has entered into a contract for the acquisition of a 50 cubic meter Blast Furnace for backward integration with its existing Arc furnace.

In a notice to the Pakistan Stock Exchange (PSX), the company also announced that it has partnered with Iron ore mine owners in Khyber Pakhtunkhwa for exclusive raw material supply for its blast furnace.

The notice said that the company intends to export iron ore from these mines to the international market, based on the commercial viability of the international trade.

Agha Steel is principally engaged in the manufacturing and sale of steel bars, wire rods, and billets.

Source: Pro Pakistani