ASL, MISI Japan sign TDA to expand steel business in Pakistan

MG News | September 22, 2021 at 03:43 PM GMT+05:00

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September 22, 2021 (MLN): Aisha Steel Mills Limited (Pakistan) and Marubeni-Itochu Steel Inc. (MISI) (Japan) have entered into a strategic alliance and have signed a Trade Development Agreement (TDA) in order to expand steel business in Pakistan.

Pursuant to the TDA, it has been agreed that subject to certain conditions, ASML appoints MISI as its supplier for buying or procuring its raw material on mutually beneficial basis.

Additionally, MISI has purchased 38,276,000 Ordinary shares of Aisha Steel Mills Limited (ASL) from Arif Habib Corporation Limited (an associated company of ASML), at a price of Rs. 30/- per share, constituting approximately 4.69% of the issued share capital of

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