In a move to deepen ties between Pakistan and Russia, both countries have agreed to set up a new steel mill in Karachi.
The agreement was reached during a meeting on Tuesday between Russian representative Denis Nazaroof and Haroon Akhtar Khan, the Special Assistant to the Prime Minister (SAPM).
According to a statement, “The primary focus of the discussion was the establishment of new steel mills in Pakistan.”
The two sides held detailed discussions on possible cooperation in developing the new facility. As part of the next steps, a joint working group will be formed to oversee the planning and execution of the project.
During the meeting, Khan stressed the Prime Minister’s commitment to increasing foreign investment in the country.
He described the current environment in Pakistan as ideal for international investors, pointing out that the country has emerged as a strong and reliable destination for global business.
Khan also highlighted the potential for significant collaboration between the two countries in the steel sector, saying it could offer substantial benefits to both sides.
“Pakistan is a secure and thriving hub for investment, and the international community has recognized its potential,” he said.
He further invited Russian businesses to explore investment opportunities across Pakistan.
The meeting marked an important milestone in the growing partnership between Pakistan and Russia, laying the groundwork for future joint ventures, particularly in strategic areas like steel manufacturing.