Sinosteel plans to build steel mill in India

Chinese mining, trading and steelmaking company Sinosteel is planning to establish a five million mt per annum production capacity steel mill in India's Jharkhand region through its wholly-owned subsidiary Sinosteel India Pvt Ltd. The company's plan is currently being reviewed by the Jharkhand regional government. Once the construction is completed, the initial production capacity of the plant will be 1.5 million mt. The capacity will be increased to three million mt within three years and to five million mt within five years. The company is also planning to set up a metallurgical equipment plant in the West Bengal region of India. Meanwhile in China, Sinosteel recently signed a strategic cooperation agreement with Tianjin Metallurgy Group Co. Ltd, an iron miner in the northern part of the country.