{"id":99412,"date":"2024-09-20T15:32:34","date_gmt":"2024-09-20T10:32:34","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=99412"},"modified":"2024-09-20T15:35:39","modified_gmt":"2024-09-20T10:35:39","slug":"pakistan-russia-collaborate-on-new-steel-mill","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pakistan-russia-collaborate-on-new-steel-mill.html","title":{"rendered":"Pakistan, Russia collaborate on new steel mill project in KHI"},"content":{"rendered":"\n<p>Karachi: The government is currently considering a proposal to establish a new steel mill in Karachi in collaboration with Russia, as reported on September 20.&nbsp;<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/pak-russia-collaboration-for-new-steel-mill-initiated.html\" target=\"_blank\" rel=\"noreferrer noopener\">Pakistan seeks Russian collaboration for new steel mill<\/a><\/p>\n\n\n\n<p>As per details, this development comes as both countries agreed to form working groups to discuss the project&#8217;s details and finalise terms. In a recent meeting, Russian Deputy Minister of Industry and Trade, Alexey Gruzdev, met with Pakistan&#8217;s Minister for Industries, Production, and National Food Security, Rana Tanveer Hussain. The government has already earmarked 700 acres of Pakistan Steel Mills (PSM) land for the new steel mill. Despite Pakistan being rich in iron ore reserves\u2014estimated at 1,887 million tons\u2014the country continues to import approximately USD 2.7 billion worth of iron and steel each year. Rana Tanveer highlighted that the domestic steel industry&#8217;s output is insufficient to meet demand, with a gap of 3.1 million tons recorded last year.<\/p>\n\n\n\n<p>Pakistan\u2019s per capita steel consumption is lower than in other developing nations, indicating significant potential for growth over the coming years. However, the steel industry\u2019s efficiency is currently limited by outdated technology and segmentation across 600 small units. The proposed site for the steel mill, strategically located near Port Qasim, would help reduce transportation costs for raw materials, providing a competitive edge.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/uap-rail-project-see-new-development-soon.html\" target=\"_blank\" rel=\"noreferrer noopener\">PAK, Russia, CARs convene for UAP Rail Project funding talks<\/a><\/p>\n\n\n\n<p>Beyond steel, the meeting also emphasised the need for balanced trade relations between the two nations. Pakistan\u2019s industrial and agricultural experts are set to visit Russia as part of efforts to strengthen bilateral ties. Rana Tanveer underscored the importance of modern agricultural machinery in boosting crop yields, an area where Russia has committed to supporting Pakistan. <\/p>\n\n\n\n<p>Both nations agreed to foster cooperation in agriculture and industrial development, with the government assuring full support to Russian investors entering the country. Alexey Gruzdev reaffirmed Russia\u2019s commitment to providing the latest agricultural technology to Pakistan. The meeting saw participation from high-ranking officials from both countries, further strengthening the foundation for increased collaboration in Pakistan\u2019s steel and agricultural sectors<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The government is currently considering a proposal to establish a new steel mill in Karachi in collaboration with Russia, as reported on September 20.&nbsp; Read: Pakistan seeks Russian collaboration for new steel mill As per details, this development comes as both countries agreed to form working groups to discuss the project&#8217;s details and finalise terms. In a recent meeting, Russian Deputy Minister of Industry and Trade, Alexey Gruzdev, met with Pakistan&#8217;s Minister for Industries, Production, and National Food Security, Rana Tanveer Hussain. The government has already earmarked 700 acres of Pakistan Steel Mills (PSM) land for the new steel mill. Despite Pakistan being rich in iron ore reserves\u2014estimated at 1,887 million tons\u2014the country continues to import approximately USD 2.7 billion worth of iron and steel each year. Rana Tanveer highlighted that the domestic steel industry&#8217;s output is insufficient to meet demand, with a gap of 3.1 million tons recorded last year. Pakistan\u2019s per capita steel consumption is lower than in other developing nations, indicating significant potential for growth over the coming years. However, the steel industry\u2019s efficiency is currently limited by outdated technology and segmentation across 600 small units. The proposed site for the steel mill, strategically located near&hellip;<\/p>\n","protected":false},"author":89,"featured_media":98260,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016],"tags":[56222,59444,59445,54568],"persona":[],"class_list":{"0":"post-99412","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"tag-news-and-updates","9":"tag-news-steel-mill","10":"tag-pak-russia-2","11":"tag-zameen-news","12":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pakistan, Russia Collaborate on New Steel Mill - Zameen News<\/title>\n<meta name=\"description\" content=\"Govt plans new steel mill in Karachi with Russian collaboration to boost steel production, reduce imports, and enhance bilateral trade ties.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/pakistan-russia-collaborate-on-new-steel-mill.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pakistan, Russia Collaborate on New Steel Mill - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Govt plans new steel mill in Karachi with Russian collaboration to boost steel production, reduce imports, and enhance bilateral trade ties.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/pakistan-russia-collaborate-on-new-steel-mill.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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