Amreli Steels Extends It’s Plant Shut Down

Amreli Steels Limited announced on Monday that it will resume its production from October 1, 2022, effectively meaning that the plant will remain shut for 11 more days.
In a stock filing, the company said that it has sufficient stocks in hand to meet its customers’ demand during the period of shutdown.
It is pertinent to mention here that in an earlier stock filing on August 31, the company had announced that it is shutting down its plant for twenty days (from 31 August to 19 September) owing to the low demand for steel rebars in the country due to the unprecedented monsoon rains and flash floods.
“The resumption of operations or further extension in production suspension (as the case may be) will be communicated accordingly,” the company had said at the time.
The recent floods have affected over 33 million people. Over 80 districts in Sindh, Punjab, Balochistan, and Khyber Pakhtunkhwa have been officially notified as ‘calamity hit’ with over 1,500 dead since June 14th, according to the latest data released by the National Disaster Management Authority (NDMA).