KISCO to establish a CR plant in India

KISCO to establish a CR plant in India

According to recent news in the market, Chinese steel producer Kunming Iron & Steel Group Co (KISCO) is planning to establish a cold rolling plant in India. The company officials are in negotiations with certain Indian companies for partnering with KISCO in the planned project. The officials stated that they preferred India as the country has many natural resources. Located in Yunnan province KISCO produces 3 million tons of steel and imports 4 million tons of iron ore, 500'000 tons of which are imported from India. The company aims to increase this figure to 1 million tons. As reported by SteelOrbis, investments in India have been on the rise in recently. Most recently POSCO and Arcelor announced that they plan to invest in India.