Pakistan and Russia have taken a step toward industrial collaboration, as Russian representative Denis Nazaroof met with Haroon Akhtar Khan, Special Assistant to the Prime Minister, to discuss establishing a new steel mill in Karachi, according to a government press release.
Both sides held in-depth discussions on the proposed project and agreed to form a joint working group to advance its development and implementation. Khan also invited Russian investors to explore broader opportunities in Pakistan’s industrial sector.
The initiative aims to revitalize the site of Pakistan Steel Mills (PSM), which was originally built with Soviet support in the 1970s but has been inactive since 2015. The government plans to allocate 700 acres of the PSM’s 19,000-acre site for the new, state-of-the-art facility, local media reported.