Mughal's board approves major upgrades to steel bar re-rolling mill

September 20, 2024 (MLN): The Board of Directors of Mughal Iron & Steel Industries Limited (PSX: MUGHAL), in alignment with its overall corporate strategy, has approved the balancing, modernization, and replacement (BMR) of the existing steel bar re-rolling mill.

This BMR initiative aims to convert the re-rolling facility into a dual-purpose rolling mill, allowing the company to utilize its current installed capacity to manufacture both steel rebars and medium sections interchangeably.

This strategic move will significantly enhance the capacity utilization of the existing re-rolling mill, diversify the product and market portfolio, and strengthen the MUGHAL's competitive position.

Once operational, the upgradation will enable production of approximately 8,000 to 10,000 tons of medium sections per month.

The total estimated capital expenditure (CAPEX) for this project is Rs2 billion.

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