Pak Steel is considering launching a plant in Uzbekistan for the production of rebar and other steel products. The prospects of the investment project were discussed by Uzbekistan's Ambassador to Islamabad Alisher Tukhtaev and Pak Steel Director Hassan Farid.

According to the head of the company, the high cost of electricity in Pakistan increases production costs and reduces product competitiveness. In Uzbekistan, Pak Steel is attracted by more affordable energy resources, ready infrastructure of industrial zones, as well as benefits and preferences for investors.

In addition to steel production, the company expressed readiness to participate in projects for the construction of housing, hotels, dams, and transport infrastructure. The parties agreed to hold video conferences with relevant state bodies of Uzbekistan and prepare a roadmap for further cooperation.

Pak Steel, also known as Pakistan Steel Mills, was founded in 1949. The company produces rebar, plain and deformed steel bars, channels, and other metal structures used in the construction of roads, subways, residential and administrative buildings.