Pakistan-Russia ink accord for revival of Pakistan Steel Mills

Pakistan and Russia have signed an accord for the revival of Pakistan Steel Mills in Karachi, reported 24NewsHD TV channel.

The agreement was signed at the Pakistan Embassy in Moscow by Mr Saif Anjum, Secretary of Industries and Production of Pakistan, and Mr 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. 

On the occasion, Haroon Akthar said that “reviving PSM with Russia’s support reflects our shared history and commitment to a stronger industrial future.” 

Haroon Akhtar said the revival of Pakistan Steel Mills reflected the vision of Prime Minister Shehbaz Sharif. He said that this agreement will become a milestone for development and progress of Pakistan Steel Mills.

Haroon Akhtar said that the complete functioning of Pakistan Steel Mills will generate more employment opportunities and will enhance industrial production.

In an official statement, the Pakistani Embassy in Moscow said “Pakistan and Russia have signed a Protocol to restore and modernize Pakistan Steel Mills (PSM) in Karachi, reaffirming their long-standing industrial partnership.

Originally built with Soviet assistance in 1973, PSM remains a lasting symbol of Pakistan-Russia ties.

Reporter: Basim Iftikhar