No Result
View All Result
Thursday, July 3, 2025
MM News
اردو
  • Home
  • Latest News
  • National
  • Showbiz
    Image: Facebook

    Adult film star Kylie Page dies of suspected drug overdose

    Mike (Liam Neeson) travels to Nepal to scatter his late brother's ashes on Mt. Everest. When Mike and his mountain guide encounter mercenaries on a tour bus, they are forced to fight to save themselves, the passengers, and the local villagers' homeland. (Courtesy of Vertical)

    Netflix or Amazon Prime: Where will Liam Nesson’s ‘Ice Road: Vengeance’ stream?

    (File Photo)

    Actress Memoona Qudoos speaks out against sexual harassment in showbiz industry

    File photo

    Shefali Jariwala’s sudden death sparks Bollywood debate on anti-aging treatments

    (File Photo)

    India lifts ban on Pakistani YouTube entertainment channels

    Mahira Khan

    Mahira Khan speaks out against India’s restrictions on Pakistani artists

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • National
  • Showbiz
    Image: Facebook

    Adult film star Kylie Page dies of suspected drug overdose

    Mike (Liam Neeson) travels to Nepal to scatter his late brother's ashes on Mt. Everest. When Mike and his mountain guide encounter mercenaries on a tour bus, they are forced to fight to save themselves, the passengers, and the local villagers' homeland. (Courtesy of Vertical)

    Netflix or Amazon Prime: Where will Liam Nesson’s ‘Ice Road: Vengeance’ stream?

    (File Photo)

    Actress Memoona Qudoos speaks out against sexual harassment in showbiz industry

    File photo

    Shefali Jariwala’s sudden death sparks Bollywood debate on anti-aging treatments

    (File Photo)

    India lifts ban on Pakistani YouTube entertainment channels

    Mahira Khan

    Mahira Khan speaks out against India’s restrictions on Pakistani artists

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
No Result
View All Result
No Result
View All Result
MM News
اردو
  • Latest
  • Thought Box
  • Showbiz
  • Business & Stock
  • Opinions
  • Technology
  • The Other Side-Pakistan
Home Business & Stock

Chinese companies express interest in reviving PSM

MM News Staff by MM News Staff
October 10, 2021
source: the News

source: the News

BEIJING: Three Chinese companies have shown their interest in reviving Pakistan’s largest steel manufacturing company, Pakistan Steel Mills (PSM).

Reportedly, three Chinese companies including Metallurgical Corporation of China (MCC) have shown their interests in reviving the ravaged Pakistan Steel Mills back on its foot by promoting local economy help to improve social welfare.

Although, MCC a state-owned company in the iron and steel industry is one of the earliest companies to start their business in China. According to sources in 1990, MCC has managed the construction of the Saindak Copper-Gold Mine based on an engineering, procurement and construction contract. Though, governments of both China and Pakistan have praised the profit made by Saindak Copper-Gold Mine for consecutive 18 years of its establishment.

Meanwhile, Privatization Commission of Pakistan said earlier that, the government is expecting at least $1 billion in foreign investment by the end of the year to revive PSM. Russia is also showing its interest in running the facility as part of its consortium. Though PSM is having the capacity to produce three million tons of cold and hot-rolled steel annually.

The government instead of selling or privatizing the Mills has planned to revive the operation and production of the unit with the help of foreign investors to meet the growing local demand for steel.

However, Pakistan’s annual steel demand stands at about eight million tons whereas local production fluctuates in the range of three to four million tons. The country fills the demand and supply gap by importing steel and iron from Japan and other countries. Earlier, the speculations were made that government is planning to shut PSM because it costs $100 million a year.

Tags: Chinamm newspakistanpakistan steel mill
ShareTweetSendShare
Previous Post

Falak and Sarah share first look of their newborn daughter

Next Post

Shoaib Malik and Ayesha Omer’s bold photoshoot stuns netizens

Related Stories

file photo
Business & Stock

Pakistan Goods Transport threatens nationwide strike against hike in fuel prices

July 3, 2025
file photo
Business & Stock

New Suzuki car prices announced after implementation of Budget 2025–26

July 3, 2025
file photo
Business & Stock

UAE Dirham to PKR rates today- July 3, 2025

July 3, 2025
representative image
Business & Stock

Saudi Riyal to PKR rates today- July 3, 2025

July 3, 2025
Image: APP
Business & Stock

PSX continues bullish trend, gains over 800 points in early trading

July 3, 2025
Representative image
Business & Stock

Latest forex rates in Pakistan today- 2 July 2025

July 3, 2025
representative image
Business & Stock

Latest gold prices in Pakistan today- 3 July 2025

July 3, 2025
(Image: Pakwheels)
Business & Stock

Lucky Motor increases prices of KIA-brand vehicles by up to Rs700,000

July 2, 2025
(Representational Image)
Business & Stock

Karachi remains top tax-paying city with 29% growth

July 2, 2025
(File)
Business & Stock

Gold price drops in Pakistan

July 2, 2025
Next Post
source: online

Shoaib Malik and Ayesha Omer’s bold photoshoot stuns netizens

Trending Stories

file photo
Business & Stock

Pakistan Goods Transport threatens nationwide strike against hike in fuel prices

by MM News Staff
July 3, 2025
file photo
Transport

Pakistan Railways increases fares following hike in fuel prices

by MM News Staff
July 3, 2025
Image: Facebook
Film & TV

Adult film star Kylie Page dies of suspected drug overdose

by MM News Staff
July 3, 2025
file photo
Business & Stock

New Suzuki car prices announced after implementation of Budget 2025–26

by MM News Staff
July 3, 2025
file photo
Business & Stock

UAE Dirham to PKR rates today- July 3, 2025

by MM News Staff
July 3, 2025

Opinion

Munir-Ahmed
Portugal and Pakistan: Building a Bilateral Bridge in a Fractured World
June 29, 2025
- Munir Ahmed
munir ahmed oped
A Peace Prize for Betrayals: Rethinking Pakistan’s Strategic Alliances
June 28, 2025
- Munir Ahmed
munir ahmed oped
“Run Lola Run” – More than a movie to cultural bridging
June 27, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

File photo
Weather

Heavy rains, flash floods forecast across country during July 6-10

by MM News Staff
July 2, 2025

The Meteorological Department warns of urban flooding, flash floods, and landslides in several regions...

Heatwave. File photo

Europe heatwave claims four lives each in Spain, France

July 2, 2025
File photo

Pakistan flash floods, heavy showers kill 64 in a week

July 2, 2025
(File Photo)

Weather forecast for Karachi today

June 30, 2025
See all

Prices

file photo
Business & Stock

New Suzuki car prices announced after implementation of Budget 2025–26

by MM News Staff
July 3, 2025

Pak Suzuki Motor Company has announced the new prices of all its car models...

representative image

Latest gold prices in Pakistan today- 3 July 2025

July 3, 2025
Online/File photo

NEPRA approves Rs1.15/unit cut in basic electricity tariff

July 2, 2025
(Image: Pakwheels)

Lucky Motor increases prices of KIA-brand vehicles by up to Rs700,000

July 2, 2025
See all

Transport News

file photo
Business & Stock

Pakistan Goods Transport threatens nationwide strike against hike in fuel prices

by MM News Staff
July 3, 2025

Pakistan Goods Transport has threatened a nationwide strike against the recent increase in the...

file photo

Pakistan Railways increases fares following hike in fuel prices

July 3, 2025
file photo

Islamabad Police issue traffic plan for today’s Muharram procession

July 2, 2025
File photo

BRT Peshawar increases bus fares

July 1, 2025
See all

MM Digital (Pvt.) Ltd.

MM News is a subsidiary of the MM Group of Companies. It was established in 2019 with the aim of providing people of Pakistan access to unbiased information. Contact Details: 03200201537

Quick Links

  • Home
  • Advertise
  • MM News Urdu
  • The Other Side-Pakistan
  • Contact Us
  • Privacy Policy

Top Pages

  • Latest News
  • Showbiz
  • OP-ED
  • Technology
No Result
View All Result
  • Latest News
  • Thought Box
  • Showbiz
  • Business
  • Opinions
  • Technology

© Copyright 2024 MMNews - All Rights Reserved.