Pakistan, Russia eye investment in Karachi steel mills

May 14, 2025 (MLN): Pakistan and Russia have taken a step forward in economic cooperation with discussions centered around establishing new steel mills in Karachi.

In a high-level meeting, Russian representative Mr. Denis Nazaroof met with Mr. Haroon Akhtar Khan, Special Assistant to the Prime Minister of Pakistan, to explore the prospects of collaboration in the steel sector.

The two sides held detailed talks and agreed to form a joint working group aimed at developing and executing the proposed steel mill project.

Mr. Khan reaffirmed Pakistan's commitment to fostering foreign investment, emphasizing Prime Minister Shehbaz Sharif’s vision of expanding economic opportunities through international partnerships.

Highlighting Pakistan’s emergence as a strong and secure investment destination, Mr. Khan encouraged Russian businesses to consider opportunities within the country.

He noted the steel industry as a promising area for collaboration, with potential benefits for both Pakistan and Russia.

Mr. Khan described Pakistan as a “secure and thriving hub for investment,” underscoring that global stakeholders are increasingly acknowledging the country’s business potential.

He extended an open invitation to Russian investors to take part in Pakistan’s economic development, as per the press release.

The engagement marks a significant move to deepen bilateral ties and create new channels for joint ventures, particularly in steel production, which could serve as a cornerstone for future economic cooperation between the two nations.

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