Amreli Steels

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Amreli Steels Limited
Amreli Steels Limited
Formerly
  • Amreli Steels (Pvt) Ltd
  • Amreliwala Hardware Industries [1]
Company type Public
PSX:  ASTL
Industry Steel
Founded1972;53 years ago (1972)
FounderAbbas Akberali
Headquarters Karachi, Pakistan
Area served
Pakistan
Key people
Shayan Akberali (CEO)
Hadi Akberali (COO)
Products Rebar
RevenueIncrease2.svgRs. 39.218 billion (US$140 million) (2021)
Increase2.svgRs. 1.36 billion (US$4.7 million) (2021)
Website amrelisteels.com

Amreli Steels Limited (Urdu pronunciation: [əmˈreː.listiːlz] um-RAY-lee STEELZ) is a Pakistani steel rebars manufacturer headquartered in Karachi. [2] [3]

History

Amreli Steels was founded in 1972 by Abbas Akberali and is named after Amreli District, Gujarat, India from where their ancestors migrated to Pakistan. [4] [5]

As of 2013, Amreli's production capacity was estimated to be 150,000 tonnes, [1] which by 2017 had increased to 180,000 tonnes. [6] [7]

In 2018, Amreli established a new production facility in Dhabeji with a 400,000 tonnes capacity. [8] [9] A strategic goal of the firm has been to be the first Pakistani company to reach annual production of 1 million tonnes of rebar product. [10]

Amreli transitioned from a private to public firm in 2015, when it was listed on the Pakistan Stock Exchange following an initial public offering in October 2015. [6] [7]

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References

  1. 1 2 OECD (2014). Developments in Steelmaking Capacity of Non-OECD Economies 2013. OECD Publishing. p. 347. ISBN   9789264194380. OCLC   893648930 – via Google Books.
  2. ↑ "Amreli Steels okays expansion in melting capacity". The Nation. April 21, 2017.
  3. ↑ "Amreli Steels' profit slides 16%". The Express Tribune. Karachi, Pakistan. 29 August 2017.
  4. ↑ Zahid, Anusha (February 21, 2019). "Scions of steel". Aurora Magazine.
  5. ↑ "Corporate History - Amreli Steels Limited". amrelisteels.com. Archived from the original on 2018-01-04. Retrieved 2018-01-03.
  6. 1 2 Zaheer, Farhan (21 November 2017). "Amreli Steels announces joint venture with Chinese company". The Express Tribune. Karachi, Pakistan.
  7. 1 2 Hussain, Dilawar (November 2, 2015). "Steel is the unchallenged king". DAWN.COM.
  8. ↑ "Amreli Steels reports 48% surge in profit for FY18". The Express Tribune. Karachi, Pakistan. 13 September 2018.
  9. ↑ Hussain, Dilawar (December 5, 2016). "Expanding to beat competition". DAWN.COM.
  10. ↑ "Amreli Steels okays expansion in melting capacity". The Nation. Nawaiwaqt Group. 21 April 2017.
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