The Pakistani steel company Pak Steel is studying an investment project aimed at producing rebar and other steel products in Uzbekistan, according to the news agency Dunyo.
Prospects for a joint venture were discussed by the Uzbek ambassador in Islamabad, Alisher Tukhtayev, and Pak Steel director Hassan Farid.
Hassan Farid noted that high electricity costs in Pakistan negatively affect the cost of production and its competitiveness. In this regard, the company is considering Uzbekistan as a potential location for new production facilities because energy resources are more accessible there.
Furthermore, Pak Steel is assessing the availability of infrastructure in industrial zones, as well as the benefits and preferences offered to investors. The company also expressed readiness to participate in projects related to the construction of housing, hotels, dams, and transport infrastructure.
Following the meeting, the parties agreed to organize video conferences with relevant state bodies of Uzbekistan and develop a roadmap for further cooperation. It is expected that Pak Steel management will visit Uzbekistan at a later stage.
Pak Steel, also known as Pakistan Steel Mills, was founded in 1949. The company produces various types of steel products, including rebar, smooth and deformed steel beams, 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.