Pakistan, Russia ink deal to breathe new life into Steel Mills

MG News | July 11, 2025 at 12:13 PM GMT+05:00

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July 11, 2025 (MLN): Pakistan and Russia have signed a Protocol to restore and modernize Pakistan Steel Mills (PSM) in Karachi, reaffirming their long-standing industrial partnership.

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.

“Reviving PSM with Russia’s support reflects our shared history and commitment to a stronger industrial future,” said Mr. Khan.

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

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