Pakistani Company plans to implement investment project in the Metallurgical Industry of Uzbekistan

 Ambassador of Uzbekistan Alisher Tukhtayev met with the Director of the Pakistani company “Pak Steel” Hassan Farid.

During the meeting, the parties discussed the prospects of implementing a joint investment project for the production of steel products in Uzbekistan, specifically the establishment of an enterprise for manufacturing rebar.

According to Hassan Farid, the high cost of electricity in Pakistan negatively impacts the production cost of steel products and their competitiveness in foreign markets. In this regard, Uzbekistan's more accessible energy resources, the infrastructure of industrial zones, as well as the incentives and preferences provided to investors, were named as important factors for the implementation of the project. Furthermore, “Pak Steel” expressed readiness to cooperate in the construction of infrastructure facilities, real estate, hotels, residential complexes, overpasses, underpasses and dams.

Following the negotiations, the parties agreed to hold videoconferences with the relevant ministries and agencies of Uzbekistan, develop a “roadmap” for further cooperation, and subsequently organize a visit of the company's management to Uzbekistan.

“Pak Steel” operates in the steel manufacturing industry and was founded in 1949. The company produces rebar, deformed and plain steel bars, as well as various types of structural steel, including channels and other metal products.