Industry News

Chinese, Russian firms interested in acquiring Pakistan Steel Mills: Hammad Azhar

Views : 398
Update time : 2020-07-16 16:22:57

Hammad Azhar briefed the Senate that 4,000 PSM employees had permanent status in 2010 and the industrial unit went into a loss.

The federal minister apprised that the Court has already sought a plan regarding the Pakistan Steel Mill.

"These companies are from China and Russia," Azhar mentioned, adding that the Mills could only be bought by an international company since local investors do not have the capability to do so." An investment of more than $1 billion is required to run the PSM," he told the Senate committee.

"International companies that have expressed interest in the privatisation of the PSM have toured the facility and some are serious about purchasing it.

 
Related News
Read More >>
Odisha’s first 200 KLD ZLD plant: how Aditya Aluminium is redefining water conservation Odisha’s first 200 KLD ZLD plant: how Aditya Aluminium is redefining water conservation
Oct .23.2025
Odisha’s first 200 KLD ZLD plant: how Aditya Aluminium is redefining water conservation
Aluminium holds firm at USD 2,818/t as inventory slips 0.33% Aluminium holds firm at USD 2,818/t as inventory slips 0.33%
Oct .23.2025
Aluminium holds firm at USD 2,818/t as inventory slips 0.33%
Hillside Aluminium maintains steady output at 181,000 tonnes in Q3 Hillside Aluminium maintains steady output at 181,000 tonnes in Q3
Oct .23.2025
Hillside Aluminium maintains steady output at 181,000 tonnes in Q3
Steel Dynamics’ earnings rise on record aluminium shipments and recycling gains Steel Dynamics’ earnings rise on record aluminium shipments and recycling gains
Oct .23.2025
Steel Dynamics’ earnings rise on record aluminium shipments and recycling gains