Pakistani sources report that all arrangements have been finalized to hold bidding for a 75 percent stake in
Pakistan Steel Mills Corporation (PSMC) in Islamabad today.
Two consortia will be participating in the tender today. One consortium includes M Magnitogorsk Iron & Steel Works Open JSC (
Russia), TuwairqiSteel Mills (Saudi Arabia) and Arif Habib Securities, while the other consortium includes Noor Financial (
Kuwait), Industrial Union of Donbass (
Ukraine), the government of Ras Al Khaimah and Al-Jomaih Holdings (Saudi Arabia).
PSMC, which manufactures a wide mix of products, including both flat and long products, is the country's largest and only integrated steel
manufacturing plant, with an annual
production capacity of 1.1 million tons.