ISLAMABAD: The Federal Minister for Industries and Production Ghulam Murtaza Khan Jatoi met with a delegation of the Chinese company Sinosteel. Sinosteel is the country’s second largest importer of iron ore and one of the leading metallurgists of China.
The delegation briefed the minister of Sinosteel’s specialization in energy, infrastructure and mining projects.
The delegation said that 60 percent of their operations are within China and they are looking to expand their overseas operations further and Pakistan has always been a consistent partner in international cooperation. Currently, the company operates in India, Turkey, Iran, Australia, Canada and Nigeria.
They added that Sinosteel’s production capacity has exceeded demand and proposed initiatives for revamping, modernization and expansion of the existing plants and operations of Pakistan Steel Mill (PSM).
He extended his full support to the delegates and assured that once Sinosteel has chalked out their proposals in detail they can sit down and discuss all possible options of Pakistan’s cooperation with Sinosteel.
Furthermore, the minister apprised the delegation that as the Privatization Commission is working on privatizing PSM, the Ministry will have to discuss all proposals with them and together they can come up with feasible options which will benefit both Pakistan and Sinosteel.
The minister suggested the delegation to visit PSM and its facilities so they can get a better understanding of the viable options for cooperation. He also recommended joint proposals as possibilities for cooperation.
