China to invest in Pakistan Steel Mills

China to invest in Pakistan Steel Mills

According to recent news in the market, a Chinese delegation led by China Metallurgical Construction Corporation (MCC) visited Pakistani Federal Minister for Industries and Production and expressed their interest to revamp Pakistan Steel Mills (PSM) and to invest in expansion projects of the company. They also informed the Minister that they have undertaken many construction projects, including the construction of Baosteel Complex of Shanghai and Anshan Steel Works. The Minister ensuring MCC that Pakistan will provide technical support to the company stated that MCC should also participate in projects of other sectors in Pakistan. Moreover, MCC should invest in the exploitation of iron ore mines in Pakistan.