Pakistan, Russia Sign Pact to Revive Karachi Steel Mills

Report by “Safarti Tarjuman” International News Desk

MOSCOW — Pakistan and Russia on Friday signed an agreement to revive the long-shuttered Pakistan Steel Mills (PSM) in Karachi, reaffirming a partnership that dates back to the Cold War era.

The landmark deal was signed at the Pakistan Embassy in Moscow by Saif Anjum, Secretary of Pakistan’s Ministry of Industries and Production, and Vadim Velichko, General Director of Russia’s Industries Engineering LLC.

The signing ceremony was attended by Special Assistant to the Prime Minister Haroon Akhtar Khan and Pakistan’s Ambassador to Russia Muhammad Khalid Jamali, according to the Ministry of Industries and Production.

Built in the early 1970s with Soviet assistance, Pakistan Steel Mills was once a flagship of Pakistan-Russia industrial cooperation. After years of neglect and financial trouble, the plant has remained dormant, prompting repeated calls for its rehabilitation.

“It’s more than just an industrial revival—it’s a reaffirmation of the trust and cooperation between our two countries.”

This agreement follows discussions held in May, during which Islamabad and Moscow committed to restoring the facility as part of a broader push to strengthen economic ties.

On the eve of the signing, Russian Deputy Prime Minister Alexei Overchuk described Pakistan as a “natural ally” and highlighted its strategic importance, especially in energy and economic cooperation.

Diplomatic contacts between the two nations have deepened in recent months. On June 3, Russian Foreign Minister Sergey Lavrov hosted Pakistan’s Special Assistant on Foreign Affairs, Syed Tariq Fatemi, in Moscow. Both sides reiterated their intent to expand cooperation across energy, trade, and infrastructure sectors.

Beyond the steel industry, Pakistan and Russia are also working on rail connectivity initiatives that aim to strengthen regional trade routes and support broader infrastructure development goals across Eurasia.

Thank you for reading! For comprehensive news coverage and exclusive stories, visit SafartiTarjuman.com