SteelOrbis Shanghai
Mr Huang Tianwen, President of Sinosteel –a major state-owned metallurgical mineral processing and
trading company in
China- announced the plans of the company to establish a rolling mill in
India with some Chinese steel companies.
The total investment for the mill, which will mainly produce long steel products such as rebars and
wire rods with a
production capacity of three million mt to five million mt per annum, is expected to be more than $200 million.
China's largest steelmaker
Baosteel is also among the potential partners of Sinosteel in this project.
The mill will mainly supply its products to
India, while some of the
production will be exported to
China.
India is expected to have a huge demand for steel products regarding the
construction of ports, highways, and railways in the next 10-15 years.
Sinosteel is also considering further
investments in
India for
iron ore supply.