Pakistan, Russia Agree To Establish New Steel Mills In Karachi

Faizan Hashmi Published May 13, 2025 | 07:40 PM

ISLAMABAD, (UrduPoint / Pakistan Point News - 13th May, 2025) Pakistan and Russia on Tuesday agreed to establish a new steel mill in Karachi aimed at enhancing bilateral relations between the two countries.

The agreement reached during a meeting between Russian Representative Denis Nazaroof and Special Assistant to the Prime Minister (SAPM) Haroon Akhtar Khan.

“The Primary focus of the discussion was the establishment of new steel mills in Pakistan,” a news release said.

The two sides remained engaged in extensive talks on the potential collaboration between Pakistan and Russia in setting up a new steel mill in Karachi.

They agreed to form a joint working group to facilitate the development and implementation of this initiative.

During the meeting, Haroon Akhtar Khan emphasized the Prime Minister's vision to increase investments in Pakistan.

He highlighted that this was an opportune time for foreign investors to invest in the country, noting that Pakistan has evolved as a strong and safe destination for international investment and business.

Furthermore, the SAPM underscored the potential for a remarkable collaboration between Pakistan and Russia in the steel industry, which could prove beneficial for both nations.

"Pakistan is a secure and thriving hub for investment, and the international community has recognized its potential," he added.

He also extended an invitation to all Russian businesspeople to explore investment opportunities in Pakistan.

The meeting also marked an important step in further strengthening the ties between the two nations and opening new avenues for joint ventures in key sectors such as steel production.