Pakistani company plans to produce steel in Uzbekistan
Pakistani company plans to produce steel in Uzbekistan
The Ambassador of Uzbekistan to Pakistan, Alisher Tukhtayev, held a meeting with the Director of Pak Steel, Hasan Farid.
During the conversation, the issues of launching joint investment projects for the production of steel products in Uzbekistan were reviewed.
Hasan Farid noted that the high cost of electricity in Pakistan negatively affects the cost of steel products and their competitiveness in foreign markets.
Therefore, the relatively favorable energy resources in Uzbekistan, the infrastructure created in industrial zones, and the benefits and preferences provided to investors were noted as important factors in establishing a steel production enterprise.
The parties discussed the possibilities of implementing a joint investment project with the participation of Pak Steel in Uzbekistan, particularly for the production of rebar products.
At the conclusion of the negotiations, it was agreed to discuss the projects with the relevant ministries and agencies of Uzbekistan, develop a "road map" for the next stage of cooperation, and organize a visit of the company's leadership to Uzbekistan.
For information, Pak Steel, established in 1949, is one of Pakistan's steel product manufacturing companies. The company produces rebar, deformed and plain steel bars, channels, and other rolled metal products.
Earlier, it was reported that Uzbekistan and Pakistan discussed the issue of increasing the volume of mutual trade to $2 billion.