Industrial giants of Ukraine and Austria have shown keen interest in revamping and expansion project of Pakistan Steel Mills, a press release of the Pakistan Steel Mills said

Industrial giants of Ukraine and Austria have shown keen interest in revamping and expansion project of Pakistan Steel Mills, a press release of the Pakistan Steel Mills said. Chairman of Ukraine consortium, during a meeting with the touring five-member delegation of Pakistan Steel, said they would directly compete for various projects of PS that was established on ex-Soviet Union-based steel-making technology. A five-member delegation, headed by Chairman Pakistan Steel, is currently touring Ukraine, Poland and Austria to lure them to take part in the tenders for revamping and expansion, likely to be floated after two months following completion of formalities. In Ukraine, the PS Chairman met Makhuka Vladimir Aleksvich, Deputy Foreign Minister (Afro-Asian Region) of Ukraine, Fedyayev Anatoly Grigorivich, Deputy Minister Mining and Smelting, Ministry of Industrial Policy, Kotouskaya Antoniya Ivanov, Chairman of the Board and President of Consortium Corporation (UKR Asia Build) and others. An Austria-based company VAI has offered 85 per cent of the finances for the completion of the project at less than four per cent interest rate. According to their offer, the project of revamping of Hot Strip Mill, with one additional furnace, might be completed in twenty months, whereby Pakistan steel would be liable to pay first installment after six months of commissioning.