ISLAMABAD: Pakistani state media reported on Friday that a Russia Agreement to Revival of pakistan Steel Mills ,restore and modernize the Pakistan Steel Mills (PSM) located in Karachi.
This development follows recent talks at the INNOPROM Forum in Yekaterinburg on upgrading the steel complex and expanding industrial cooperation.INNOPROM, Russia’s largest yearly industrial trade event, gathers government officials, business leaders, and technology companies from over 30 countries to explore partnerships in manufacturing, engineering, and advanced industries.
Pakistan’s Secretary of Industries and Production, Saif Anjum, and Vadim Velichko, General Director of Industrial Engineering LLC from Russia, signed the protocol at the Pakistan Embassy in Moscow, reaffirming the long-standing industrial relationship between the two countries.
According to a Radio Pakistan report, “Pakistan and Russia Agreement to Revival of pakistan Steel Mills, aiming to restart and increase steel production, marking a new phase in bilateral cooperation.”
The Pakistan Steel Mills, once a symbol of national industrial strength built with Soviet support in the 1970s, has remained inactive since 2015 due to years of financial mismanagement, political challenges, and mounting losses.
Russian Consul-General Andrey B. Fedorov told Arab News that Moscow plans to finalize a deal with Islamabad this summer to build a new steel mill in Karachi.
Russian technical experts have already visited the proposed site for this new facility, with another team set to arrive soon to prepare a detailed implementation plan.
Russia’s history of industrial cooperation with Pakistan includes major infrastructure projects like the Guddu Power Station in Sindh during the 1980s, one of Pakistan’s key electricity producers.
Despite global tensions caused by the war in Ukraine, Moscow and Islamabad have strengthened their cooperation in recent years, demonstrating the resilience of the Pakistan and Russia agreement and their shared commitment to industrial development.
