Xingxing Cathay and China Minmetals launch iron ore pellet plant in India

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.