Russia offers $1 billion to revive Pakistan Steel Mills

Discussion in 'Pakistan' started by farhan_9909, Aug 2, 2013.

  1. farhan_9909

    farhan_9909 Tihar Jail Banned

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    Russia offered $1 billion financial and technical assistance for rehabilitation and upgrading Pakistan Steel Mills (PSM), according to a statement issued by Board of Investment.

    Sergey Abuditze, deputy general director for development of JSC Technopromexport – Russian-based engineering company that builds energy facilities in Russia and abroad – announced the assistance while calling on the Board of Investment Chairman Muhammad Zubair on Thursday.
    The BOI chairman also discussed the two phases regarding of PSM where in the first phase the capacity of the Pakistan Steel Mills will be, at first, rehabilitated and then upgraded to 1.5 million tons a year. In the second phase, production capacity will be enhanced up to three million tons a year.
    Abuditze said that Russia will provide financial assistance worth $1 billion for the project. This matter has received positive response and is presently under active consideration at the highest level on the Russian side.


    The Russian-based company discussed the project of converting Muzaffargarh thermal power station to coal and establishing a 600-megawatt coal-fired power plant at Jamshoro.
    Abuditze apprised the BOI chairman that Technopromexport (TPE) is one of the largest companies in Russia, specialising in setting up electric power stations. Discussing previous projects by built by the company in Pakistan, Abuditze said that TPE’s project portfolio in Pakistan includes installing units 1, 2 and 3 at the 660MW-Muzaffargarh plant between 1993-95 and setting up the 220MW-Guddu plant in 1981 with the financial assistance of Soviet Union.



    The Moscow-based firm is keen to undertake projects in Pakistan, and can also assist them in obtaining loans and financing some projects.
    Abuditze further went on to say that in June 2010, a TPE team visited Water and Power Development Authority and Pakistan Electric Power Company where the company was requested for assistance in rehabilitation of three Russian-made units at the Muzaffargarh plant.
    A “framework cooperation agreement’ between JSC Technopromexport and Genco Holding Company was agreed and funding of 500 million Euros for rehabilitating and converting the Muzaffargarh plant.

    BOI chairman Zubair also pointed the TPE towards a potential project where the government may need their assistance such as the construction of new coal-based unit with a capacity of 500-600MW.

    While talking about the financial and technical assistance of rehabilitation/up-gradation of the PSM, he appreciated the role of the Russian government for assisting providing $500 million on a government-to-government basis.
    Published in The Express Tribune, August 2nd, 2013.



    Russia offers funds to revive Pakistan Steel Mills – The Express Tribune
     
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  3. W.G.Ewald

    W.G.Ewald Defence Professionals/ DFI member of 2 Defence Professionals

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  4. bennedose

    bennedose Senior Member Senior Member

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    LOL! This should interesting. Bhookanangas need loans and this Russian company will "assist" them? hahaha:cool2:
     
  5. Blackwater

    Blackwater Veteran Member Veteran Member

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    why u fought war against russia at first place ,if u allow them to invest now?

    BTW pakistan is like that prostitute ,who dont mind sleeping with any clients in crisis:p:p:p
     
  6. Ray

    Ray The Chairman Defence Professionals Moderator

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    Even God cannot revive a dead man!
     
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  7. sob

    sob Moderator Moderator

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    Russians are out to screw you guys

    SAIL has very good experience with Russian equipment but now slowly they are shifting to indian/European equipment. The main reason is that new technology is not coming out of Russia.
     
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  8. farhan_9909

    farhan_9909 Tihar Jail Banned

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    Though had been hearing this from the past many years

    the past govt did nothing in return..i hope nawaz accept the offer.and build ties with russia

    they have also offered warm water access to russia(through tajiksitan may be?)
     
  9. hello_10

    hello_10 Tihar Jail Banned

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    sir i can see that you have got little crazy over Pakistan and China both now days??? :truestory:
     
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  10. Abhijeet Dey

    Abhijeet Dey Regular Member

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    There is a thread in defence forum titled "Pakistan begins defaulting on Chinese debt" by Armand2REP
     
  11. farhan_9909

    farhan_9909 Tihar Jail Banned

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    sir ji had been like this always

    late noticed
     
  12. Ray

    Ray The Chairman Defence Professionals Moderator

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    I agree.

    Lies makes me mad!
     
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  13. Blackwater

    Blackwater Veteran Member Veteran Member

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    Russians refuse to let PIA off the hook without payment:taunt1::taunt1:

    Russians refuse to let PIA off the hook without payment | Pakistan Today | Latest news | Breaking news | Pakistan News | World news | Business | Sport and Multimedia
     
  14. Ray

    Ray The Chairman Defence Professionals Moderator

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    Not really.

    They keep me productively engrossed!
     
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  15. Keshav Murali

    Keshav Murali Back to studies :( Senior Member

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    Really? Can we have a neutral or Russian source?
     
  16. Tolaha

    Tolaha Senior Member Senior Member

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    Nobody in Russia is as concerned about access to warm waters as the Pakistanis are! Zia is dead but his views continues to brain----- generations of Pakistanis!
     
  17. Ray

    Ray The Chairman Defence Professionals Moderator

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    [​IMG]

    [​IMG]

    [​IMG]

    Novorossiysk is in the cold water area?
     
    Last edited: Aug 7, 2013

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