MMK may purchase Pakistan Steel

MMK may purchase Pakistan Steel

Russian steelmaker MMK Steel Group has shown interest in purchasing Pakistan Steel Mills, which is due to be privatized. MMK wants to purchase the 25-year old Pakistan Steel with the aim to upgrade and modernize the existing plant and to enhance its position in the market. The Pakistani government will encourage foreign investment in the steel manufacturing sector to meet the country's present and future demand for the steel and engineering industries.