MOSCOW: Director General of Industrial Engineering LLC Vadim Velichko and Secretary Ministry of Industries & Production Saif Anjum inked an agreement to restore and modernise Pakistan Steel Mills (PSM) here at the Embassy on Friday (11th July, 2025).
It may be recalled that in the month of May Pakistan and Russia had agreed to build a new state-of-art steel mill in the Port City. The 55-year-old Soviet-built Steel Mills, that remained non-operational since 2015, has been a burden on the exchequer as the dormant Mill still pays salaries to workers.
In order to facilitate establishment of the new state-of-art Steel Mill and an industrial park, Sindh Govt has been provided a terrain measuring seven hundred acres. Meanwhile, the site has been examined by Russian technical experts. Another delegation will soon visit Karachi to draft a comprehensive plan.
Newspakistan.tv
