Revitalizing Historic Ties: Pakistan and Russia's Steel Renaissance

In a significant development for bilateral relations, Pakistan and Russia have agreed to restore the historic Pakistan Steel Mills project. The agreement, finalized at the Pakistan Embassy in Moscow, highlights a renewed phase of cooperation between the two nations. Despite China's interest in securing the contract, Russia emerged victorious, reinforcing ties first established with the mill's Soviet-assisted foundation.

According to special assistant to the prime minister, Haroon Akhtar Khan, the collaboration reflects a commitment to a robust industrial future. The Pakistan Steel Mills, which became operational in 1971, had long been a symbol of friendly relations between the nations. However, it has faced significant financial turmoil since 2008, leading to colossal losses over the years.

Despite various government attempts to revive the mills, it had been a struggle until recent Russian intervention. Initially, the Pakistan Tehreek-e-Insaf administration leaned towards Chinese negotiations, but ultimately, the project's Soviet roots made Russia the more fitting partner to spearhead its revival.

(With inputs from agencies.)