Pakistan, Russia Sign Protocol to Revive Steel Mills
Jan 12, 2026
Pakistan and Russia have signed a Protocol to restore and modernize Pakistan Steel Mills (PSM) in Karachi, reaffirming their long-standing industrial partnership. The agreement was signed at the Pakistan Embassy in Moscow by Mr. Saif Anjum, Secretary of Industries and Production of Pakistan, and Mr. Vadim Velichko, General Director of Industrial Engineering LLC from the Russian side, in the presence of SAPM Haroon Akhtar Khan and Pakistan's Ambassador to the Russian Federation Muhammad Khalid Jamali.
The bulk of production consists of pig iron, steel semi-finished products, and direct reduced iron
Jan 12, 2026
In January–October 2025, the European Union (EU) imported 4.19 million tons (-10.7% y/y) of steel raw materials of Russian origin. The cost of importing these products reached €1.72 billion (-23.4% y/y). This is evidenced by GMK Center calculations based on Eurostat data.
Asia United Steel has begun construction of a steel plant in Kazakhstan
Jan 12, 2026
Construction of Asia United Steel’s steel plant has officially begun in the Kazybek Bek industrial zone in the Almaty region of Kazakhstan. This was announced in a press release on the government’s website.The groundbreaking ceremony was attended by regional leaders, representatives of local authorities, foreign investors, and project organizations. Regional authorities emphasized the strategic importance of the project for industrial development and strengthening the country’s economic potential.
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