Representatives of a Russian firm, Russian Technologies, will visit Pakistan in July this year to discuss modalities in connection with the expansion of Pakistan Steel Mills (PSM), according to Board of Investment Chairman Saleem H Mandviwalla.
Talking to the media on Monday, Mandviwalla said that executives of another Russian company would arrive in the next two months to offer suggestions for revival of Pakistan Railways.
An investment of $540 million is needed in expanding production of PSM.
Representatives of Russian gas giant Gazprom will also visit Pakistan in the next three months to discuss expansion of oil and gas drilling activities and laying of gas pipelines particularly Turkmenistan-Afghanistan-Pakistan-India gas pipeline (TAPI) and Iran-Pakistan gas pipeline.
Mandviwalla said many Russian delegations would visit Pakistan as Moscow had requested the country’s conglomerates to invest in steel, energy, oil and gas sectors.
Pakistan has signed four memoranda of understanding with the Russians for cooperation in energy, dams and railway projects, he added.
Published in The Express Tribune, May 17th, 2011.
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