Project aims to restart and expand steel production, marking a new chapter in bilateral cooperation


Islamabad: Reaffirming their long-standing industrial partnership, Pakistan and Russia have inked a protocol to restore and modernise Pakistan Steel Mills (PSM) in Karachi,
The agreement was signed at the Pakistan Embassy in Moscow by Saif Anjum, Secretary of Industries and Production of Pakistan, and Vadim Velichko, General Director of Industrial Engineering LLC from the Russian side, in the presence of SAPM Haroon Akhtar Khan and Pakistan’s Ambassador to the Russian Federation Muhammad Khalid Jamali.
The project aims to restart and expand steel production, marking a new chapter in bilateral cooperation.
“Reviving PSM with Russia’s support reflects our shared history and commitment to a stronger industrial future,” said SAPM Khan.
According to officials, although Pakistan is rich in iron ore, with estimated reserves of 1.887 billion tons, it still imports about $2.7 billion worth of steel every year.
Officials said that domestic steel production is insufficient to meet all demand, with a supply gap of 3.1 million tons last year. Originally built with Soviet assistance in 1973, PSM remains a lasting symbol of Pakistan-Russia ties.

Elden Ring Nightreign is getting even harder in September
- 6 hours ago

Mark Zuckerberg is burning billions to chase the holy grail of AI
- 4 hours ago

Sanders waived by Bucs one day after ejection
- 5 hours ago

20 years after Katrina, New Orleans is back where it started
- 4 hours ago

Extraordinary flood situation in Punjab, largest landslide in Kasur
- 2 hours ago

European countries offer Iran sanctions delay if 3 conditions met
- 2 hours ago

Anti-polio campaign postponed in Punjab amid flood situation
- 2 hours ago

Raleigh hits 48th HR to tie MLB mark for catchers
- 5 hours ago

Cow manure just killed 6 workers on a dairy farm. It happens more than you’d think.
- 4 hours ago

Samsung is Unpacking again in early September
- 6 hours ago

Why RFK Jr. just broke the CDC
- 4 hours ago

Hands-on with the Level Lock Pro: sleeker, smarter, still very expensive
- 6 hours ago