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- Tuwairqi Steel Mills Ltd.
Tuwairqi Steel Mills Ltd.
Pakistan
| Borrower | Tuwairqi Steel Mills Ltd. |
| Financing Type | Private Sector & Trade Finance |
| Instrument | Private Sector Debt |
| Focus Area | Industry |
| Approved | 13.06.2006 |
| Signed | 21.12.2006 |
| Status | Completed |
| Loan Administrator | OPEC Fund |
| Co-financiers | ICD, Comm. Bank of Qatar, Saudi Hollandi Bank, Arab Bank, Abu Dhabi Isl. Bank, Boubyan Bank, Bank Muscat Intl., Habib Bank, Equity |
| OPEC Fund Contribution (US$m) | 10.00 |
This project, sponsored by the Al-Tuwairqi group
of Saudi Arabia, consists of a one million metric
ton per annum integrated steel manufacturing
plant at Port Qasim in Karachi. Representing part
of a $130 million financing package, the facility
provided by OFID is being syndicated by the
Islamic Corporation for the Development of the
Private Sector and envisages the participation of a
group of banks. The project is expected to generate
a large number of highly skilled jobs and to
assist in technology transfer, thereby contributing
to overall economic development.