According to foreign media reports, the Pakistani business giant Naveena Group announced on Sunday the establishment of Naveena Steel, which is located in Qasim port of Karachi.
It is reported that the plant will introduce Pakistan's first induction heating system to continuously produce rebar that meets international standards.
The group stated that the China-Pakistan Economic Corridor (CPEC) will not only benefit Naveena Steel Co., Ltd., but also increase the country's demand for steel. "
The Naveena Group has the advantage of being close to the port, making scrap imports more cost-effective.
