Pakistan’s Beco Steel to diversify into steel rebar production, plans 5MW solar plant

Beco Steel Limited (BECO) has announced plans to diversify its operations into the production of deformed steel bars, marking a major step in its long-term expansion and growth strategy. The listed company disclosed the development in its notice to the bourse. The steel-maker said it currently operates in both ferrous and non-ferrous segments, catering to both local and export markets. It added that sales continue to show a positive growth trajectory, while the company remains debt-free, operating without any borrowings from financial institutions. “In line with its long-term expansion and growth strategy, and in anticipation of future steel demand, the company has decided to diversify into the production of deformed steel bars,” read the notice. “This will be achieved through the installation of a state-of-the-art steel furnace and continuous casting mill, with an annual production capacity of 72,000 tons of rebars.”