Al-Tuwairqi and POSCO to exit from Pakistan

Well - here is a shocking news report.

It would seem that Al-Tuwairqi of Saudi Arabia and POSCO of South Korea, who together invested in the TSML DRI plant in Pakistan, have been unable to secure the low-cost natural gas needed to operate the new DRI facility. Requests to the government of Pakistan to consider TSML’s position have seemingly been ignored; with the result that the DRI plant has not operated since Septem­ber 2013.

In a board meeting held on 27^th January 2015 in Dam­­mam, Al-Tuwairqi and POSCO thus decided to permanently close the facility and to exit Pakistan. The investment in the DRI facility was around $340 million. TSML on completion of its integration with steel production was envisioned to be the largest fully integrated steel complex in Pakistan with a capacity of ~1.5 million tonnes per annum. TSML’s exit from Pakistan will therefore be a real blow to the industry.

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Andrzej M Kotas

Chief Executive

www.steelonthenet.com

Iron and steel plant and equipment costs

MCI have just published a new report on typical iron and steel industry plant and equipment costs. The report covers average sizes [in tonnes of annual capacity] and $ costs for a range of plant. This includes sinter, coke, DRI, blast furnaces, BOF plants, EAFs, induction furnaces, slab casting, billet and bloom casting, heavy plate, hot rolled coil, cold rolled coil, hot dip galvanised sheet, tin plate, organic coated sheet, heavy sections, steel bar, wire rod, drawn wire, welded tube, seamless tube, pellets, washed coal, lime, PCI, air separation, power plant etc.

Want to know the cost today of a DRI plant? The chart below will tell you.
The full report has another 30 charts like this ...



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