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Wednesday November 22nd 2017

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PSM CEO directed to invite more int,l competitors for expansion plan


ISLAMABAD, (SANA): Federal Minister for Industries & Production Mir Hazar Khan Bijarani has directed the CEO PSM to contact with the above mentioned companies and also invite other international competitive companies and get proposal from them for expansion plan.

“Work out a comprehensive proposal on its own terms and conditions keeping in view technical grounds and joint venture aspects also. A complete and practicable proposal may be submitted in the next meeting which would be held in the second week of July 2010, the Minister added. The Minister further said that we,ve to be more active in pulling out the PSM from financial crunch as soon as possible and to move forward with a vision” he added..

Federal Minister for Industries & Production Mir Hazar Khan Bijarani chaired the Expansion Committee Meeting of Pakistan Steel Mills (PSM) here on Thursday. CEO Pakistan Steel Mills Malik Israr Ahmad briefed the Minister about the expansion plan of the Pakistan Steel. During the briefing, the CEO apprised the Minister that Pakistan Steel had received offers from M/S Tyazpromexport(TPE) of Russia and M/S China Metallurgical Construction(Group) Corporation(MCC) of China for its expansion plan from existing 1.1mtpy to 3 to 5 mtpy. Pakistan Steel Mills and government had already signed Memorandum of Understandings (MOUs) with both the countries in this regard. [Read More]