LAHORE : South Korean govt and business community have explored Pakistan as potential economic hub, willing to invest in different sectors, particularly steel, which offers huge growth opportunities spurred by government’s investment-friendly policies. This was stated by the Ambassador of South Korea, H.E. Jong Hwan Song, during his visit to Tuwairqi Steel Mills (TSML). Terming steel as vital for economic development of any country, he said that TSML is an industrial icon strengthening the bond between S Korea and Pakistan.
“South Korean steel giant POSCO is already an equity partner with Al-Tuwairqi in this project and contemplating to invest more for the backward and forward integration in this initial effort of the DRI plant. While interacting with the highly professional, dedicated and committed team of TSML, he opined that there is a dire need of an outright support from the government of Pakistan to address the commercial issues TSML currently is contended with. Moreover to encourage POSCO and Al-Tuwairqi both to invest further in the backward and forward integration of the ongoing project.
He specially lauded the extraordinary efforts of the technical team of TSML which only within 120 days of trial production had been able to test run the plant at 100% of its rated capacity in May 2013, under the supervision of the OEM experts. Ambassador after seeing the certificate issued by the OEM congratulated the team for meeting all the required parameters of the OEM’s specifications and achieving quality of the product par excellence.