Karachi: Amreli Steels Limited has announced its decision to extend the suspension of operations at its SITE Rolling Mill (SRM) for an additional year, citing ongoing unfavorable market conditions and economic factors. The decision, effective June 30, 2026, follows a thorough review of the operational status of the SRM facility.

According to the company, the economic circumstances that necessitated the initial halt in operations at the SRM persist, warranting continued suspension in the interest of prudent operational and financial management. The company has communicated its decision in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1 of the PSX Rule Book.

Amreli Steels has assured stakeholders that it will persistently monitor economic and market developments, with any future decision to recommence operations contingent upon a significant improvement in the broader economic and industry environment. The company emphasized that its Dhabeji facility, which accounts for the entirety of its billet manufacturing capacity and 70% of its rebar manufacturing capacity, remains fully operational. This facility continues to support the company's ongoing business needs and anticipated market demand.

According to information available from the Pakistan Stock Exchange (PSX), the announcement is part of Amreli Steels' strategic approach to adapt to current market realities. The company remains committed to evaluating its position periodically and making decisions that align with the prevailing economic conditions.

The decision has been disseminated to the certificate holders of the exchange, ensuring transparency and compliance with the regulatory framework. As the company navigates these challenging conditions, its focus remains on sustaining its operational capabilities and readiness to adjust to improving market scenarios.