$500 Million Grant Announced For Pakistan Steel Mills By Russia

Russia has announced $500 million for Pakistan Steel Mills. It was announced when Prime Minister of Pakistan Yousaf Raza Gilani met Prime Minister of Russia Vladimir Putin on the sidelines of the 10th Heads of Government meeting of the SCO.

The amount will be spent on the restoration of Pakistan Steel Mills which will help in expansion and repair of machineries at Pakistan Steel Mills.

The Pakistan Steel Mill is the country’s largest industrial undertaking having a production capacity of 1.1 million tonnes of steel. After this grant it is expected that the production capacity will increase to 1.5 million tons per annum.

 

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