U.S. Firm Looks to Set up Pakistani Scrap Metal Plant

Scrap industry veteran seeks to install large shredding operation in Pakistan.

International Material Development, a U.S. firm has offered to set up super-shredder for scrap metals in Pakistan in collaboration with M/s Monica International Inc.

 

The offer was made by a six-member US delegation, headed by Howard Lincoln, a veteran of the scrap metal industry in a meeting, chaired by Jehangir Khan Tareen, federal minister for industries and production.

 

The U.S. delegation is on a visit to conduct feasibility study that will look at existing industrial and support facilities in Karachi as well as to outline preliminary plan for IMF’s super-shredder project in Karachi with appropriate members of the Pakistan government.

 

The delegation sought government’s help to facilitate the company for setting up the project in Pakistan.

 

Lincoln said the establishment of super-shredder for scrap metals in Pakistan would revolutionize scrap metal industry in the country and the region by providing a centralized scaleable state-of-the art processing facility capable of processing 15,000 tons to 30,000 tons scrap metal per month.

 

He was of the view that the facility would provide cost competitive scrap for steel mills across Asia.

 

It will not only provide jobs, income and training in Pakistan but leverage economic growth by producing enough feedstock for a future steel mini-mills in Pakistan as well, he added.

 

The delegation informed the minister that in the developing world, the demand for scrap metal was increasing and the plant in the region would help meet the requirement of the vast market besides providing political benefits to the host nation to dominate the regional metals market.

 

The delegation also informed the minister that a consortium, headed by Lincoln Metal Processing Company, has focused on Pakistan and recognized the need for a reliable partner and identified Monica International Corporation in Pakistan in the processing of scrap materials to form a venture to be known as International Materials Development LLC of Pakistan as company which aims to marshal the local labor pool and existing regional scrap supply to provide jobs, a source of less expensive material as well as natural base for leveraging future industrial development in Pakistan.

 

The minister for industries and production welcomed the delegation and assured his full support in providing necessary infrastructure including electricity and gas for the project. Jang.com.

 

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