By Berk Kutay Gokmen
ISTANBUL (AA) - Pakistan and Russia have signed an agreement to revive and expand the state-run Pakistan Steel Mills (PSM) in Karachi, originally built in the 1970s with Soviet help, a government statement said on Friday.
In May, both countries agreed to restore the PSM, which ceased operations in 2015, highlighting the industrial collaboration between the two nations.
After the mill’s official closure in 2024, Islamabad sought Russian support to rebuild its outdated infrastructure, which had been in loss for years.
The protocol was signed at Pakistan’s Embassy in Moscow by Secretary Industries and Production Saif Anjum and Vadim Velichko, general director of Russia’s Industries Engineering LLC. Special Assistant to the Prime Minister Haroon Akhtar Khan and Pakistan’s Ambassador to Russia Muhammad Khalid Jamali were also present.
“Reviving PSM with Russia’s support reflects our shared history and commitment to a stronger industrial future,” Khan said.
The project aims to restart and expand steel production, marking a new phase in Pakistan-Russia cooperation, according to the Pakistani mission in Moscow.