Pakistan Steel Mills may be upgraded by Austria

Pakistan Steel Mills may be upgraded by Austria

Austrian Federal Ministry for Industry and Production has recently announced that it wants to upgrade and modernize Pakistan Steel Mill (PSM). Main focus of the revamp is Hot Strip Mills of PSM as the revamp of this mill will double the production capacity and increase the quality of products. Besides, revamping includes automation and control systems of PSM. Austria stated that, they may modernize the mill with the cost of €60 million in less than two years. Moreover, upgrading will enable the company to produce steel grades that are used in automotive sector and the company will not have to import those steel grades.