CHINA MINMETALS TO BUILD STEEL PLANTS IN INDIA
AsiaInfo Services, March, 2008
AsiaInfo Services 03-05-2008 China Minmetals to Build Steel Plants in India BEIJING, Mar 05, 2008 (SinoCast via COMTEX) -- China Minmetals Corporation will build two plants in India, producing iron ore pellets and steel products. The Chinese largest metals trader teamed up with Xinxing Ductile Iron Pipes Co., Ltd.
(SZSE: 000778), and set up a joint venture in Southern Indian State of Karnataka with local investors including Bangalore-based Sigma Minmet Limited. 55% to 45% owned by the Chinese and Indian parties, the JV will be responsible for the construction of the two plants, respectively designed to have an annual production capacity of 6 million tons of pellets and 2.5 million tons of steel products. In the first phase, a 2-million-ton pellet plant will be...
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