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Pakistan and Russia have reached a major agreement to establish a new steel mill in Karachi, signaling growing economic cooperation between the two countries.
The decision was made during a high-level meeting held in Islamabad between Special Assistant to the Prime Minister Haroon Akhtar Khan and Russian Representative Denis Nazaroof.
According to an official press release, both parties held extensive talks to explore the potential for collaboration in Pakistan’s steel industry.
The primary outcome of the meeting was the agreement to form a joint working group, which will lead the planning and execution of the proposed steel mill.
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SAPM Haroon Akhtar Khan described the initiative as a step toward realizing the Prime Minister’s vision of attracting foreign investment and transforming Pakistan into a secure and thriving destination for international business.
“This is an opportune time for global investors. Pakistan offers economic stability, strategic location, and untapped industrial potential,” Khan said while extending an invitation to Russian investors to explore opportunities in various sectors, including steel production.
Denis Nazaroof, representing the Russian side, expressed optimism over the future of bilateral trade and industrial collaboration, stating that Russia values long-term partnerships with countries like Pakistan.
Officials from both nations hailed the discussion as a significant move towards strengthening Pakistan-Russia relations and diversifying cooperation in key economic sectors.
