Tuwairqi Steel Mills Limited

Name of the Company	Tuwairqi Steel Mills Limited (TSML) – a subsidiary of Al Tuwairqi Holding of the Kingdom of Saudi Arabia
Location	Spreads over 220 acres at Muhammad Bin Qasim Port Zone, Karachi, Pakistan.
Capacity	P-I: Direct Reduced Iron (DRI) 1.28 million ton per year (MTPY) expandable up to 1.5 MTPY P-II: Electric Arc Furnace and Continuous Caster 1.28 MTPY Billets & Slabs production P-III: Pelletization Plant 2.4 MTPY Oxide Pellets
Cost	Phase - I : US$ 245 million (excluding working capital) Phase - II : US$ 380 million Phase - III : US$ 300 million
Technologies	P-I: Direct Reduction of Iron using MIDREX Process of Kobe Steel of Japan P-II: Electric Arc Melting and Continuous Casting P-III: Pelletization Plant
Products	P-I: DRI Pellets P-II: Billets & Slabs P-III: Iron Oxide Pellets
Raw Material	P-I: Oxide Pellets P-II: DRI, Scrap and Ferroalloys P-III: Beneficiated iron ore and Binder
Raw Material Supplier	P-I: Bahrain, Brazil or elsewhere P-II: TSML’s produced DRI and scrap from local and foreign sources P-III: Local as well as imported iron ore
Target Market	Pakistan, neighboring countries, ATH plants, Gulf states and other countries. Around 75% for export purpose and rest for domestic usage. *Can vary with prevailing market conditions
Ports	Muhammad Bin Qasim and Karachi Port Trust for import of raw materials/ export of finished goods
Completion Target	P-I: 2nd quarter, 2010 P-II: 2011 P-III: After 2011
Procurement Philosophy	1st preference: Tolling Option 2nd preference: Buy Back Option 3rd preference: Selling Agent
Status	Export Processing Zone (EPZ)
Manpower & Employment	Project will provide direct employment to over 1,000 persons and an opportunity to about 3,500 persons in trade & services