Key points
- Signing of the protocol to reinforce historic industrial partnership
- Agreement signed in Moscow by top officials from both countries
- PSM symbolises longstanding Pakistan-Russia cooperation in industrial development
ISLAMABAD: In a landmark development Pakistan and Russia have signed a protocol to restore and modernise Pakistan Steel Mills (PSM) in Karachi, reaffirming their long-standing industrial partnership.
The agreement was signed at the Pakistan Embassy in Moscow on Friday by Saif Anjum, secretary of Industries and Production of Pakistan, and 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.
A new chapter
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 Khan.
Originally built with Soviet assistance in 1973, PSM remains a lasting symbol of Pakistan-Russia ties.
