Pakistan’s first private sector integrated environment-friendly steel manufacturing project with Direct Reduction route of Iron (DRI) technology will begin production next month in January in the city of Karachi. The plant has been set up with investment worth $400 million from Saudi Arabia along with South Korean steel manufacturer POSCO that invested $15 million.
The project is being considered as a breakthrough for the kind of industrial growth Pakistan’s steel sector requires. The project, called Tuwairqi Steel Mills Limited (TSML) is unique also because of the DRI technology. It is necessary to keep environment safe and industrialization positive. Steel manufacturers world over use environment-friendly production process that produces high quality product with the help of the DRI technology. The new steel production plant will provide job opportunities for the technical and skilled labourers and will also help rebuild Pakistan’s economy.
Although, there are many such good new projects being undertaken that have been planned specially keeping in mind the current requirements of industrialization in the country and the economic boost needed urgently, but the lack of transparency and mismanagement in the system does not turn out good results as expected. Unless there comes an attitude of full commitment and professionalism in people who supervise these projects, the corruption will continue.
The first steel mill established with the help of the Russians is in a dilapidated condition due to lack of proper governance and accountability. There is definitely is a need for more such projects like TSML so that industrialization occurs not only to improve economic conditions, but to develop Pakistan with modern technological applications in every sector.