Pakistan, Iran to enhance coop in steel industry
Pakistan Times Business & Commerce Desk

ISLAMABAD: Pakistan and Iran have agreed to enhance bilateral cooperation in the Steel Industry with Iran offering to provide technical assistance of experts to Pakistan in the exploration of iron ore and expansion and modernisation of steel production plants at Pakistan Steel, Karachi.

During a meeting of Chairman, Pakistan Steel Mills, Lt Gen Qayyum (Retd) with the Iranian Deputy Minister for Mines and Industry, Mustafa Moazenzadeh, who is also Chairman of the Board of Iranian Mines and mining Industry Development and Renovation Organisation (IMIDRO), the two sides discussed ways and means to benefit from each others’ experiences in the field of steel.

According to a message received here Sunday from Tehran, the Chairman Pakistan Steel, LT Gen (R), Abdul Qayyum also extended an invitation to the Iranian Minister to visit Pakistan at his convenience.

He informed the Iranian dignitary that with take off and increased growth rate of Pakistan economy, the requirements for more steel for Pakistan’s industry had to be ensured.

He highlighted relatively low quantum of trade between Iran and Pakistani at US$ 92 million exports from Pakistan to Iran and US$ 265 imports from Iran during the financial year 2003-04.

Lt Gen (R) Abdul Qayyum and the Iranian Deputy Minster emphasised the need to expand the scope of bilateral trade between the two brotherly countries.

The Iranian Deputy Minister, Mustafa Moazenzadeh, welcomed the Chairman, Pakistan Steel Mills on his three-day visit to Iran and said that Pakistan and Iran enjoyed centuries old cultural, religious and economic ties.

He apprised the guest or Pakistan about the steel production capacity of Iran’s Ishpahan Steel Mill which has reached 12 million tons per year and was likely to enhance to capacity for about 20 million tons per year in the next 5 to 10 years.

The Iranian Deputy Minister assured the Chairman, Pakistan Steel that Iran would honour its contractual obligations of supply of iron ore of Pakistan and expressed the optimism that the private companies working in the field of steel in Iran would like to make investment in various economic, industrial and mining sectors in Pakistan.

The Iranian Deputy Minister agreed to the proposal by Chairman, Pakistan Steel to send a delegation of experts to Pakistan to examine and discuss the areas of cooperation between Iran and Pakistani steel industry.

Besides, the Minister accepted the proposal to train Pakistani Steel engineers and technicians in Isphahan Steel Industry which was founded by ex-Soviet Union and later expanded by the Iranian authorities. He also accepted the invitation to visit Pakistan in the near future.●