Pakistan, Russia to Revive Karachi Steel Mill
Pakistan and Russia have signed a protocol to revive and expand the Pakistan Steel Mills (PSM) in Karachi, reaffirming their long‑standing industrial partnership. The agreement was inked in Moscow by Pakistan’s Secretary of Industries, Saif Anjum, and Russia’s Vadim Velichko, director of Industrial Engineering LLC, with senior officials from both sides present.
Soviet-Era Project Gets New Lease of Life
Originally built with Soviet support in 1973, PSM ceased production in 2015 due to financial losses. The new deal aims to restore plant operations and modernise production capacity. Pakistani officials described the revival as symbolic of renewed economic cooperation, though the scale of the investment and timeline have yet to be disclosed.
Strategic Connectivity and Regional Trade
The agreement follows earlier commitments made by both nations in May to bolster rail and road links connecting Pakistan, Central Asia, and Russia. These infrastructure projects are expected to enhance trade corridors, positioning Pakistan as a key transit hub for regional commerce.
Bilateral Relations Strengthen
The revival of PSM comes amid deepening Pakistan-Russia ties. After joining the Shanghai Cooperation Organisation in 2017, Pakistan has expanded military and economic engagement with Moscow. Russia has dismissed claims of a major multi-billion-dollar deal, emphasising that the agreement focuses on protocol and feasibility rather than final contracts.
