Hulas Steel was jointly established in 1981 as a Greenfield venture by Golchha Organisation of Nepal and Comcraft of Switzerland. Golchha Organisation was founded in 1934 A.D. by the dynamic and charismatic chairman, Late Seth Sri Ram Lal Golchha. Since then, the organisation has been at the forefront of industries and commercial development in the country and has pioneered the introduction of technical excellence, professionalism and innovation in all spheres of business. Products and brands developed and nurtured by member companies of the organisation have become trusted household names throughout Nepal. 

Two years after its inception, Hulas Steel introduced its galvanizing line for its sheet division in 1983. It was eventually followed by the foundation of Himali Pipco for its tube division in 1986. In 1989, the company became the pioneers to produce colour-coated sheets in the SAARC region. With continuous advancement in the quality of its products and overall production, Hulas has also received the certifications ISO 9001: 2000 in 2001