Tashkent, Uzbekistan (UzDaily.uz) — Pakistan’s steel company Pak Steel is considering an investment project to produce rebar and other steel products in Uzbekistan, the Dunyo news agency reported.
The prospects for the joint project were discussed by Uzbekistan’s Ambassador to Islamabad Alisher Tukhtaev and Pak Steel Director Hassan Farid.
According to Hassan Farid, high electricity costs in Pakistan are negatively affecting production costs and the competitiveness of its products.
Against this backdrop, the company is considering Uzbekistan, where energy resources are more accessible, as a potential location for new production facilities.
Other factors being considered by Pak Steel include the availability of infrastructure in industrial zones, as well as incentives and preferences offered to investors.
The company also expressed readiness to participate in projects involving the construction of housing, hotels, dams and transport infrastructure facilities.
Following the meeting, the sides agreed to organize video conferences with relevant government bodies in Uzbekistan and develop a roadmap for further cooperation. A visit by Pak Steel’s management to Uzbekistan is expected at a later stage.
Pak Steel, also known as Pakistan Steel Mills, was established in 1949. The company produces various types of steel products, including rebar, plain and deformed steel bars, channels and other steel structures.
Its products are used in the construction of road infrastructure, metro systems, residential and administrative buildings, industrial facilities and other projects in Pakistan.
