Zhang Xiaogang, general manager of Liaoning Province-based Chinese steelmaker Anshan Iron & Steel Group Co. (Ansteel), has stated in an interview that Ansteel is considering establishing a steel processing plant in India to take advantage of the positive outlook for steel demand in that country.
Mr. Zhang also stated that the Indian plant, which would receive investment from other leading global steel makers, would produce steel plates used in household appliances and automobiles.
"We will partner with other global steel giants," said Zhang, adding, "We do not rule out the possibility of attracting other Chinese steelmakers to jointly invest in the plant." However, he declined to name specific partners or give a timeline for the project.
The Ansteel plan to launch a joint venture in the US last year faced strong opposition from some US Lawmakers. Mr. Zhang stated that the proposed joint venture in the US will now likely be delayed as some shareholders have pulled out of the project.