Amreli Steels Limited announced on Monday to extends its plant shut down until September 30, 2022.
“The company will continue its production from October 1, 2022,” according to a communication received by the Pakistan Stock Exchange (PSX).
Furthermore, saying that the company has sufficient stock to meet the customer’s demand during the closing period.
Previously, on August 31, 2022, the company decided to close its factory for twenty days due to low steel demand in the country due to unprecedented rains and flash floods witnessed throughout the country.
Amreli Steels has the largest Billet production in Pakistan with a capacity of producing 400,000 tons of Billet.
This new flood has affected more than 33 million people. More than 80 districts in Sindh, Punjab, Balochistan, and Khyber Pakhtunkhwa have been officially told as ‘Hit Calamity’ with more than 1,500 dead since June 14, according to the latest data released by the National Disaster Management Authority (NDMA).
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Consequently, the company decided that no manufacturing would take place from August 31, 2022, to September 19, 2022.
Through the latest communication, the company decided to close the factory for additional 11 days because of sufficient stock available to meet demands.
Amreli Steels Extends its Plant Shut Down