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Pakistan to Sign Agreement With Russia on Steel Plant During Sharif's Visit

© Sputnik / Vitaly Timkiv / Go to the mediabankJoint Pakistan-Russia military exercises "Friendship-2021"
Joint Pakistan-Russia military exercises Friendship-2021 - Sputnik International, 1920, 22.01.2026
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Pakistan expects to sign an agreement with Russia on the restoration and modernization of the Karachi steel plant during Prime Minister Muhammad Shehbaz Sharif's visit to Moscow, scheduled for March, Pakistani Ambassador to Russia Faisal Niaz Tirmizi told Sputnik.
The Pakistani steel plant in Karachi was built with Soviet assistance in 1973. Last July, Pakistan and Russia signed a protocol on the restoration and modernization of the Soviet-era steel plant in Karachi, the Pakistani Embassy in Russia told Sputnik.
"Our agencies are in contact, and the Pakistani government has already submitted technical and commercial proposals to the Russian side. And I hope that the agreement on the [re]construction of the plant will be signed during the prime minister's visit to Moscow," the ambassador said.
Tirmizi said he had useful talks on the topic both in Islamabad and in Russia. He said the reconstruction of the plant could take 2-3 years.
Tirmizi added the Pakistani prime minister's visit to Russia is scheduled for the first half of March.
Joint Pakistan-Russia military exercises Friendship-2021 - Sputnik International, 1920, 17.12.2025
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Pakistan, Russia Forum Lays Groundwork for Strategic Dialogue, Announces Practical Roadmap
Pakistan and Russia are also exploring the possibility of the joint development and production of oil fields in both countries, the ambassador said.
Pakistan invites Russian companies to develop and produce oil in Pakistan, the ambassador said, adding that the country seeks for Pakistani companies to develop deposits in Russia, so that these are joint projects.
A Russian business delegation has already visited Pakistan and identified the fields it is ready to develop, he added.
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