MISI is establishing a joint venture steel processing center in Pakistan called MID Pakistan Coil Center with a local manufacturer Dawood Engineering. The new company will be located in Bin Qasim Industrial Park outside of Karachi, Pakistan and will process and sell steel products to meet demand from local automobile, motorcycle, and other manufacturers. MISI will own 74% of the new venture and contribute $5 million in capital. The processing center is expected to have an annual capacity of 70,000 tons and begin operations in July 2015, becoming Pakistan's first full-fledged steel product processing center.

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News Release
March 10, 2014
Marubeni-Itochu Steel Inc.
Nihonbashi 1-chome Building
4-1, Nihonbashi 1-chome
Chuo-ku, Tokyo 103-8247
MISI to Build Joint Venture Steel Processing Center on Outskirts
of Karachi in Pakistan
Marubeni-Itochu Steel Inc. (MISI; head office: Chuo-ku, Tokyo; President and CEO:
Yasuo Matsuura) is pleased to announce an agreement with Dawood Engineering (Pvt.)
Ltd.—a local manufacturer of automotive parts and components in the Islamic Republic
of Pakistan—to jointly establish a new company in Bin Qasim Industrial Park outside of
Karachi City in Sindh Province, Pakistan. The new company, MID Pakistan Coil Center
(Private) Ltd., will process and sell steel products. The joint venture contract includes
capitalization of US$5 million (equity breakdown: MISI 74 percent, Dawood 26
percent). Operations are scheduled to commence in July 2015, with an annual
processing capacity of approximately 70,000 tons.
Pakistan, the world’s sixth most populous nation at over 180 million, has posted robust
economic growth in recent years, emerging as a market generating particularly high
hopes for expanded automobile and motorcycle production. Pakistan’s government is
promoting Bin Qasim Industrial Park as a key phase of a special economic zone
designed to attract Japanese companies to the nation’s shores. Japanese firms in the
automobile and motorcycle fields are studying the possibility of carrying out business
development in this industrial park.
Pakistan currently does not host any companies along the lines envisioned for the joint
venture, so this will mark the launch of the country’s first full-fledged steel product
processing center. MID Pakistan Coil Center will provide high-caliber services through
the processing and sales of steel products, meeting the needs of local customers in the
automobile, motorcycle, electric appliance and building materials fields as well as the
highly diversified demands of Japanese companies slated to expand to Pakistan. The
center is expected to make a solid contribution to the ongoing and significant growth of
the Pakistani manufacturing industry.

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Outline of New Company
1. Company name: MID Pakistan Coil Center (Private) Ltd.
2. Location: Bin Qasim Industrial Park outside of Karachi City, Sindh Province,
Islamic Republic of Pakistan
3. Shareholders: MISI, 74 percent; Dawood, 26 percent
4. Capital: US$5 million
5. Business lines: Processing and sales of steel products
6. Scheduled operations startup: July 2015
7. Equipment overview: One large slitter, one large leveler shear line, and two shearing
machines
8. Processing capacity: Approx. 70,000 tons per year
Background Information
Outline of Dawood Engineering
Company name: Dawood Engineering (Pvt.) Ltd.
Location: Karachi City, Sindh Province, Islamic Republic of Pakistan
Established: July 2006
Representative: Arif Dawood
Business lines: Manufacturing and sales of automotive parts and components
Capital: Approx. 300 million Pakistani rupees
For further information, please contact: https://www.benichu.com/inquiry/index_e.html