Pakistan and Russia have signed an agreement to revive the Pakistan Steel Mills in Karachi, according to media reports on Friday.
The signing ceremony took place at the Pakistan Embassy in Moscow, where Secretary of Industries and Production Saif Anjum and Vadim Velichko, General Director of Industrial Engineering LLC, represented their respective countries. The event was attended by Special Assistant to the Prime Minister Haroon Akhtar Khan and Pakistan’s Ambassador to Russia, Muhammad Khalid Jamali.
The agreement aims to restart and expand steel production at the long-dormant facility, marking a significant step forward in Pakistan-Russia economic 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 the 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.
