MUGHAL updates investors regarding progress of BMR of Bar Re-rolling Mill

January 15, 2020 (MLN): Mughal Iron & Steel Industries apprised the Pakistan Stock Exchange about the progress of BMR of Bar Re-rolling Mill being financed partly or fully by Right Issue for the quarter ended December 31, 2019.

In its quarterly progress report, the company has informed that majority of the milestones relating to the completion of the project have been achieved including successful commissioning of the Mill train including finishing and bundling area by the OEM commissioning team and its successful cold / hot trial runs.

However, reheating furnace and water treatment plant commissioning/trials are underway due to which the commercial production is expected at the end of March 2020.

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Posted on: 2020-01-15T16:35:00+05:00