On August 25, Karnataka,
India-based Xindia Steel Co., the joint venture of the largest centrifugal cast ductile iron
pipe producer in the world, Xingxing Cathay International Group (Xingxing Cathay), and Chinese metals and mineral trading company
China Minmetals Corporation, announced that it has officially put its new
iron ore pellet plant with an annual
production capacity of 800,000 mt into
production.
Ground was broken for the construction of the new plant at the end of 2009. Xinxing Cathay and
China Minmetals hold 35 percent and 20 percent shares respectively in Xindia Steel which was built with a total investment of INR 2.5 billion ($54.7 million).
Furthermore, Xindia Steel also announced that it will invest INR 85 billion ($1.86 billion) to build an integrated steel mill with an annual
production capacity of 2.5 million mt at Koppal in the state of Karnataka.