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Amreli Steels

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Amreli Steels Limited
Amreli Steels Limited
Formerly
  • Amreli Steels (Pvt) Ltd
  • Amreliwala Hardware Industries[1]
Company typePublic
PSXASTL
IndustrySteel
Founded1972; 52 years ago (1972)
FounderAbbas Akberali
HeadquartersKarachi, Pakistan
Area served
Pakistan
Key people
Shayan Akberali (CEO)
Hadi Akberali (COO)
ProductsRebar
RevenueIncrease Rs. 39.218 billion (US$140 million) (2021)
Increase Rs. 1.36 billion (US$4.7 million) (2021)
Websiteamrelisteels.com

Amreli Steels Limited (Urdu: امریلی اسٹیلز) is a Pakistani steel rebars manufacturer headquartered in Karachi.[2][3]

History

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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]

References

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  1. ^ a b 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. ^ a b Zaheer, Farhan (21 November 2017). "Amreli Steels announces joint venture with Chinese company". The Express Tribune. Karachi, Pakistan.
  7. ^ a b 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.