Islamabad, Pakistan – The Pakistani government has entered into discussions with Russia to establish a modern steel plant at the location of the dormant Pakistan Steel Mills (PSM), according to recent media reports. A Russian delegation is scheduled to visit Pakistan on Friday to explore potential trade and investment opportunities.
The proposed site for the new steel plant covers 700 acres of land previously owned by PSM. The location’s close proximity to Port Qasim is expected to reduce transportation costs for raw materials, making it an advantageous site for the project.
PSM, which was originally built in the 1970s with Soviet assistance, has been inactive since 2015 due to ongoing financial difficulties. The Pakistani government made the decision to close the mill in June of last year, officially releasing the land for industrial use. The new partnership with Russia aims to revitalize the area and boost Pakistan’s steel production capabilities.
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