13
Oct
10:27
Sinosteel to restart and expand Pakistan Steel Mills
China’s Sinosteel has agreed to take over Pakistan Steel Mills (PSM) for $778 million despite the producer’s struggle to maintain output and pay its bills. The company not only intends to restart the mill but to eventually triple capacity, Kallanish notes.
Sinosteel hope to lift production levels near to PSM’s current capacity of around 1.1 million tonnes/year within eight months with an initial investment of $170m, according to China’s S…
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