Beco Steel Limited has initiated supplying steel angles used in electric transmission poles and related infrastructure to various Water and Power Development Authority (WAPDA) and Distribution Companies (DISCOs) projects through indirect vendors.
The listed steelmaker disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Friday.
The company stated that this development positions it to be included in the approved vendor list of these entities, enabling it to supply directly for upcoming power and infrastructure projects.
“This development is expected to further strengthen the company’s presence in the power sector and contribute positively towards its sales, profitability and overall market,” the statement said.
The management reaffirmed its commitment to expanding its “customer base, maintaining high quality standards and pursuing growth opportunities that enhance shareholder value”.
Beco Steel Limited, formerly known as Ravi Textile Mills, is incorporated in Pakistan as a public limited company which manufactures and supplies steel products, including structural steel and fabricated components used in construction, energy, and industrial projects.
Last month, BECO announced plans to diversify its operations into the production of deformed steel bars, marking a major step in its long-term expansion and growth strategy.
“This will be achieved through the installation of a state-of-the-art steel furnace and continuous casting mill, with an annual production capacity of 72,000 tons of rebars,” BECO said back then.
Moreover, the company shared plans to add a 5MW solar power plant as part of the expansion.
Back in July, the company successfully shipped its first export consignment of copper ingots to Hong Kong, China, marking a successful milestone in its expansion plans.
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