ASTL to invest in non-ferrous operations to diversify business portfolio

MG News | June 23, 2022 at 12:56 PM GMT+05:00

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June 23, 2022 (MLN): The Board of Directors of Amreli Steels Limited (PSX: ASTL) on Thursday approved investment into non-ferrous operations as a first step to diversify the company's business portfolio, the company filing on PSX showed today.

The approval includes establishing a new facility for producing aluminum ingots with an initial production capacity of 18,000 MT per annum as a first phase.

The detailed technical feasibility has been conducted along with the financial close, the notification read.

Currently, the scrip of AST is being traded at Rs25, up by 82 paisa, 3.39% DoD.

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