Century Steel, a Chinese steel company engaged in iron and steel investment and operations, received an award for establishing a remarkable steel mill in the Rashakai Special Economic Zone in Pakistan.
The Chief Minister of Khyber Pakhtunkhwa (KPK) province thanked the government of China, the companies involved, and public sector entities for their unflinching support of the project. Earlier, the caretaker Chief Minister of KPK, Muhammad Azam Khan, inaugurated Phase I of the Rashakai Special Economic Zone near Nowshera.
While addressing the inaugural ceremony, the caretaker Chief Minister appreciated the exceptional efforts and unwavering commitment of China Road and Bridge Corporation and the Khyber Pakhtunkhwa Economic Zones Development and Management Company for successfully completing Phase I of the project six months ahead of schedule.
The Chinese steel company, located on 20 acres of land in the Rashakai Special Economic Zone, is a China-Pakistan Economic Corridor (CPEC) project being built in three phases.
According to company sources, the first phase consists of producing construction steel, mainly rebar. The second phase involves making wire rod, including iron wire, nails, screws, welded mesh, and round bars. The third phase will produce profile steel, including H-beams, L-beams, and channel steel.
“With all three phases completed, we will provide Pakistan with an annual output of 1,500,000 tons of steel, create at least 1,000 local jobs, and generate great economic and social benefits,” the sources added.