International Steels Limited (Urdu: انٹرنیشنل اسٹیلز) is a Pakistani company which manufactures cold rolled, galvanized and color coated steel coils and sheets.[1][2] It is based in Karachi, Pakistan.[3]
Company type | Public |
---|---|
PSX: ISL | |
Industry | Steel |
Founded | 2007 |
Headquarters | Karachi, Sindh |
Area served | Pakistan |
Parent | International Industries Limited |
Website | isl |
International Steels was incorporated in 2007 as a subsidiary of International Industries Limited.[4][1] Its plant was commissioned in 2010 at a cost of $162 million and it had a capacity to produce 280,000 tons per annum of cold rolled coil from hot rolled coil, including 150,000 tons per annum of galvanized steel.[5] The plant is located in the industrial estate of Landhi.[6] The project received $18.40 million loan from the International Finance Corporation which included a convertible loan of $6.4 million.[5]
In June 2011, International Steels was listed on the Karachi Stock Exchange, following an initial public offering at a strike price of PKR 14.06.[7]
In March 2016, International Steel increasing its annual production capacity to over 500,000 metric tons which included 400,000 metric tons of galvanized steel.[3][8] The project which cost Rs 3.2 billion involved upgrading the cold rolling mill (CCM), adding a second galvanizing line, and establishing a colour coating steel plant.[8]
In June 2018, International Steel commissioned a new plant which further increased its production capacity to 1 million tons per annum.[9][10]