Pakistan Steel Mills - Dividends and Business Assets

Dividends and Business Assets

Pakistan Steel Mills not only had to construct the main production units, but also a host of infrastructure facilities involving unprecedented volumes of work and expertise. Component units of the steel mills numbering over twenty, and each a big enough factory in its own right, were commissioned as they were completed between 1981 to 1985, with the Coke Oven and Byproduct Plant coming on stream first and the Galvanizing Unit last. Commissioning of Blast Furnace No.1 on 14 August 1981 marked Pakistan's entry into the elite club of iron and steel producing nations. The project was completed at a capital cost of Rs.24,700 million. Due to its enormous expansion, it is difficult to determined the current value of assets of Pakistan Steel Mills, while others approximating the business assets reaching to then range from Rs. 72.5Bn to Rs. 100Bn of total value. By estimating, including the heavy machinery, dividends, facilities, and external and internal assets, the market price of the land of the Steel mills are exceeding to the amountts of Rs. 125.5Bn, as per the government estimates.

The completion of the steel mill was formally launched by the then-President of Pakistan General Muhammad Zia-ul-Haq on 15 January 1985. Pakistan Steel today is the country's largest industrial undertaking, having a production capacity of 1.1 million tonnes of steel.