www.ferroalloynet.com: Investors from China, Russia and South Korea are interested in reviving Pakistan Steel Works Corporation (PSMC), the cabinet’s privatisation committee has said.
Meetings with potential investors are taking place almost daily. The valuation of the PSM land is due to be completed by the end of January, and it will seek to subscribe to the PSM interest in March this year.
The meeting also discussed matters relating to the privatization/divestment of shares and options relating to the management control of distribution companies. The final decision will be made after receiving recommendations from the power sector and other relevant forums.
As previously reported by Obo Steel, the privatization of the plant, which was closed in 2015, will create jobs, reduce debt and ease pressure on the country’s economy.
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