Baosteel eyes Indian Visa
China's largest steel producer Shanghai based Baoshan Iron and Steel Group (
Baosteel) is reportedly interested in buying an equity stake in the Indian Visa Steel.
A senior level delegation from
Baosteel visited the plant in Orissa region of
India in order to negotiate on the conditions of the transaction.
Baosteel will also open a liaison office in New Delhi in a few months.
Visa has mining and
steelmaking plants in Orissa. The company is also having a 500'000 tons per annum capacity
stainless steel plant constructed.