Pakistan plans modern steel mill on PSM site with Russian collaboration

ISLAMABAD: The government is currently in discussions with Russia to establish a modern steel mill on the site of the defunct Pakistan Steel Mills (PSM). The Minister for Industries and Production, Rana Tanveer Hussain, is scheduled to visit Moscow next week to further these discussions.

A delegation from Russia is set to arrive in Pakistan this Friday to explore potential trade and investment opportunities, as confirmed by both the minister and Secretary Saif Anjum, reported The News.

SSGC cuts gas supply to Pakistan Steel Mills over Rs97.7 billion unpaid dues

Pakistan Steel Mills, which was established with assistance from the Soviet Union in the 1970s, has been a significant financial liability for the government, remaining inactive since June 2015. In light of this, the government has decided to dismantle the current facility and has allocated 700 acres of land to the Sindh government for the construction of a new state-of-the-art steel mill. Additionally, extra land is planned to be utilised for the development of an industrial park.

Web Desk Karachi