Russia offers funds to revive Pakistan Steel Mills

[Devil Soul]

ISLAMABAD:
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.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

 

[BDforever]

very good news.

 

[That Guy]

DO IT NAWAZ, DON'T LET THIS OPPORTUNITY SLIP BY!

 

[pkuser2k12]

shaid ab government aqal karay .ab privatization ka na sochay aur iss offer say fayda uthay .

 

[Hyde]

I am hearing similar news since last 3 years or so. Do they only offer and don't invest or we don't listen to their proposals or the newspapers just publish this news for a change?

 

[farhan_9909]

I am hearing similar news since last 3 years or so. Do they only offer and don't invest or we don't listen to their proposals or the newspapers just publish this news for a change?

Sir ji i was in matric and had posted this news in PDF

today i am in medical college and posting here

hope that atleast nawaz give them a green signal

 

[xyxmt]

sell this bastard
havent we learned something yet, are we the dumbest people on this planet, all sign are there

a vicious cycle has been going on for two decades
1. govt claims "steel mills turned profit"
2. political appointments
3. 10000 jayala ******
4. mega corruption in coal purchase
5. mega corruption in raw material
6. steal mill losses mount to 20 bil
7. losses upto to 60 bil
8. losses excess of 100 bil
9 steal mills in dire need of bailouts
10 govt put more money
11. good news steal mills in profit again
after Election and new Govt, goto step 1


-

 

[Edevelop]

Please don't miss this opportunity.

 

[Black Eagle 90]

ISLAMABAD:
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.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

I think they should go with the Plan of the Old Brigadier aka Chairman of Steel Mills which have been reappointed. I mean like on the Land of Stell Mills they should build a modern state of the Art Mill and after its completion they should upgrade the current one. Also the stell town should be upgraded with better housing facility as well Separate Boys and Girls Kingdagarden, School and High School.

 

[ziaulislam]

I am hearing similar news since last 3 years or so. Do they only offer and don't invest or we don't listen to their proposals or the newspapers just publish this news for a change?

we dont listen..
there are rules and regulations that are to be followed..we just usaullly get them stuck in so much yellow tap that nothing materializes
this also wouldnt materialize as bureaucratizes and judges will start yelling"kick backs" blah blah

 

[SBD-3]

shaid ab government aqal karay .ab privatization ka na sochay aur iss offer say fayda uthay .

Privatization is THE long term solution, such measure will only be good for the short and medium term unless the organization is not run on commercial basis which is efficiently possible if there are commercial minds running the industry. Of course government can offer a part of holdings with management control but the government should step out of commercial activities since it hasn't been able to handle them efficiently and effectively.

ISLAMABAD:
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.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

I must say that Zubair Umar is doing a good job, he has been very busy lately and thats whats good to see.

 

[naveen mishra]

sell this bastard
havent we learned something yet, are we the dumbest people on this planet, all sign are there

a vicious cycle has been going on for two decades
1. govt claims "steel mills turned profit"
2. political appointments
3. 10000 jayala ******
4. mega corruption in coal purchase
5. mega corruption in raw material
6. steal mill losses mount to 20 bil
7. losses upto to 60 bil
8. losses excess of 100 bil
9 steal mills in dire need of bailouts
10 govt put more money
11. good news steal mills in profit again
after Election and new Govt, goto step 1


-

how much is capacity that steel plant?

 

[Edevelop]

Russia to provide US $1.00 Billion assistance to Pakistan for PSM: Chairman BoI

ISLAMABAD: Sergey Abutidze, Deputy General Director for Development, JSC TECHNOPROMEXPORT Russia called on Chairman BoI, Mohammad Zubair and discussed the Projects of Conversion to Coal of Muzaffargarh Thermal Power Station, Establishment of new 600 MW Coal Fired Thermal Power Station at Jamshoro" and Rehabilitation/Up-gradation of the Pakistan Steel Mills (PSM).

Sergey Abutidze apprised the Chairman BoI that Technopromexport (TPE) is one of the largest, specializing in setting up electric power stations.

The TPE has undertaken projects in Pakistan that include installation of Units 1, 2 & 3 at the Muzaffargarh (660Mw) in 1993 - 95 and Guddu (220 Mw) Thermal Power Stations in 1981 with financial assistance of the former Soviet Union.

He said that TPE are keen to undertake projects in Pakistan and able to provide complete turnkey solutions and can also assist customers in obtaining loans/financing for some projects.

He further said that in June 2010, a TPE team visited WAPDA and PEPCO where TPE was requested for assistance in the rehabilitation of the three Russian Units installed at MTPS (Muzaffargarh Thermal Power Station).

"Frame Work Cooperation Agreement" between JSC Technopromexport and GENCO Holding Company was agreed and successfully arranged funding for the MTPS project up to EUR 500 million for the rehabilitation and conversion of MTPS from Furnace Oil to Coal.

Chairman BoI offered the TPZ that the construction of new coal-fired unit 500-600MW with technical concept of 500MW coal fired unit can be considered as potential project.

While talking about the financial & technical assistance for rehabilitation/ up-gradation of the Pakistan Steel Mills (PSM), he appreciated the role of Russian Government for assistance up to USD 500 Million along with the technical assistance for this purpose on a Government - to - Government basis.

He also discussed about the two phases regarding the production of PSM i.e: (a) Phase-I: Rehabilitation/up-gradation up to 1.5 million tons / year. (b) Phase-II: Up-gradation up to 3.00 million tons / year.

Sergey Abutidze told that Russia will provide assistance of US$ 1.00 billion for this project.

This matter has received positive response and is presently under active consideration at the highest level on the Russian side.

http://www.brecorder.com/top-news/108-pakistan-top-news/130061-russia-to-provide-us-$100-billion-assistance-to-pakistan-for-psm-chairman-boi.html

 

[Thorough Pro]

For one billion dollars a second steel mill can be established in some other part of the country. PSM has become a hub of corruption and breeding ground of one political party's terrorists.