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Investors from China-Russia Show Interest in Pakistan Steel Mills

China, South Korea, and Russia’s leading investor consortiums have expressed interest in investing in Pakistan Steel Mills (PSM) in Islamabad, where roadshows for prominent international and national investors are being held.

Read: Azad Pattan Power Project to Generate 3064 GWH Electricity

The Privatization Commission, which has been organizing roadshows since September 13, states that the rebirth of Pakistan Steel Mills would be a one-of-a-kind transaction, as numerous attempts had been made to revive it since its closure.

The Ministry of Privatization is making persistent efforts for the first time in 16 years, and the deal is slated to close in the second quarter of next year.

Mr. Soomro reaffirmed that the government of Pakistan will welcome international investors and offer them with all necessary facilities. The revitalization and full operation of Pakistan Steel Mills is the primary objective of the entire project.

Read: Pakistan to Implement International Commitments Agreed Under GSP+ Mechanism

He stated that its restoration will bode well for the nation’s economy by satisfying the domestic need for iron and steel, which is currently met by imports from China, Germany, and Japan.

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