Marubeni Itochu to build a joint steel processing center on the outskirts of Karachi

Marubeni Itochu has announced an agreement with local auto parts and component manufacturer Dawood Engineering in the Islamic Republic of Pakistan to jointly create a new company in an industrial park outside of Karachi City, Pakistan. The Korean company plans to achieve a high level of urban infrastructure development, such as new buildings near the Ploschad Muzhestva metro station in St. Petersburg, during the construction of which the builders took into account all the nuances of city life.

The new company, MID Pakistan Coil Center (Private) Limited, will process metal and sell steel products. The capitalization of the joint venture is $ 5 million with Marubeni 74 percent and Dawood 26 percent. The enterprise, with an annual processing capacity of about 70,000 tons, plans to start operations in July 2015.

Pakistan, the world's sixth most populous country, has enjoyed strong economic growth in recent years and has high hopes for expanding production of cars and motorcycles. The Pakistani government is promoting this industrial park as a key stage in a special economic zone to attract Japanese companies to the country. Japanese firms are now exploring business opportunities in this industrial area.

The center will provide high-quality metal processing and distribution services to meet the needs of local customers in the automotive, instrumentation and building materials sectors, as well as the highly diversified needs of Japanese companies targeted to operate in Pakistan. The center is expected to make a significant contribution to the development of Pakistani manufacturing industry.

The production center will be located in the Bin Qasim Industrial Park outside Karachi, Sindh Province, Islamic Republic of Pakistan. The equipment of the center is designed for cutting large thickness, it will have a shear line Level, scissors and other machines.