Wednesday, September 22, 2021

Pakistani Steel Manufacturers To Operate in North America

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ISLAMABAD – Pakistani Steel Manufacturers To Operate in North America. The State Bank of Pakistan SBP, on Friday, has allowed International Industries Limited (ILL) to operate in North America. ILL is one of Pakistan’s largest steel manufacturers.

According to details, IIL will be able to operate in North America to promote, market and sell the company’s products in the region. And to explore further expansion possibilities subject to applicable local and international’s regulatory approvals.

This venture will also enable the company to utilise and expand its current capacity. As well as improve export volume in a higher margin territory offsetting the impact of the slowdown in its traditional export markets.

The company’s exports over the last 5 years have been around $238.4 million. Along with sales to 60 countries in North America, Europe, Africa, the Middle East, South Asia, and Australia.  In the last 5 years, the company has also contributed over Rs19.3bn in duties and taxes to the national exchequer.

The IIL said that it is Pakistan’s largest manufacturer of steel, stainless steel and polymer pipes. It has an annual manufacturing capacity of 817,000 tons and annual revenues of almost Rs26 billion.

Pakistani Steel Manufacturers To Operate in North America.

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