Sinosteel plans mill in India

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.