Pula Steel goes under the hammer

Pula Steel was the first integrated steel plant in Botswana using scrap metal to produce steel billets, an intermediary steel product. Built at a cost of P130 million in 2015, Pula Steel fell into technical and financial problems that saw intermittent operations before eventual closure last March.

The company, majority owned by BCL Mine and with shareholding from CEDA and founders, the Verma family, was placed in liquidation last October, owing creditors an estimated P100 million.