Steel Mills land valuation to be completed by month-end: Soomro.

ISLAMABAD -- Minister for PrivatisaAtion Mohammadmian Soomro said on Thursday that the land valuation of Pakistan Steel Mills (PSM) would be completed by the end of this month while the expressions of interest would be called in March.

Presiding over a meeting regarding transaction updates, legal matters and e-office, Mr Soomro said that detailed meetings were being held almost on a daily basis with potential investors from China, Russia and South Korea on the revival of the Steel Mills.

The transaction structure of PSM has already been approved by the Privatisation Commission's board as well as the Cabinet Committee on Privatisation. Under the transaction structure, majority of the shares will be divested.

Following the approval of the transaction structure, financial advisers have been asked to move ahead with procedural follow-up processes expeditiously. After conducting the due process, the Privatisation Commission has appointed Pak-China Investment Company and BOC International as joint lead financial advisers.

Says contacts made with investors from China, Russia and South Korea for revival of PSM

The...

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