Saudi Arabia’s Al-Tuwairqi Group signed a memorandum of understanding with the Pakistani government to establish a $100 million steel billet plant in the vicinity of Pakistan Steel Mills (PSM) in Karachi.
Pakistan’s Secretary of Industry and Production Javed Ashraf Hussain and Chairman of Al-Tuwairqi Group Dr Hilal Hussein Al-Tuwairqi signed the agreement on behalf of the two sides. Dr Al-Tuwairqi said that Saudi investors would invest $1 billion in various sectors of Pakistan’s economy.
Pakistan’s Minister of Industry and Production Liaquat Jatoi, Export Promotion Board Chairman Tariq Ikram, and Chairman of PSM Lt-Gen Abdul Qayyum attended the signing.
Source: SPA
