Dost Steels Limited (DSL), a Pakistani steel manufacturer, has announced a strategic expansion of its business portfolio, moving beyond steel re-rolling to enter the trading and supply of construction materials.
The listed company disclosed the development in its filing to the Pakistan Stock Exchange (PSX) on Tuesday.
“DSL is pleased to inform its shareholders and the market that, as part
of its strategic realignment, the company will be expanding its operations to include the trading and supply of construction materials in addition to its existing principal line of business of manufacturing steel rerolling products,” read the notice.
The steelmaker has initiated an arrangement under which it will act as a primary source of construction materials for ZKB, one of Pakistan’s largest infrastructure development groups.
The company shared that the initiative would provide stable and recurring demand for the pipeline would allow DSL to participate directly in the supply chain of major nationwide infrastructure projects executed by ZKB.
“This strategic expansion is aligned with DSL’s future growth plans and
will operate alongside the company’s ongoing manufacturing activities.
“The company remains committed to enhancing shareholder value
through operational expansion, improved business integration, and long-term sustainable growth,” read the notice.
Earlier in June, Dost Steels announced plans to raise Rs4.45 billion ($15.6 million) through a rights issue to fund the installation of a
melting furnace.
Dost Steels Limited was incorporated in Pakistan on March 19, 2004, as a private limited company under the Companies Ordinance, 1984, now the Companies Act, 2017.
The principal business of the company includes manufacturing steel, direct reduced iron, sponge iron, hot briquetted iron, carbon steel, pig iron, and special alloy steel in various forms, shapes, and sizes, all manufactured within the existing facilities.
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