Xindia steel to set up iron ore pellet plant in karnataka:
Xindia Steel Ltd, a new joint venture between two Chinese steel and minerals companies and two Indian groups, announced that they would be investing over Rs 8,000 crore in two phases to set up iron pellatisation and steel plant in India.
Promoted by Xingxing Group of companies, Chinese National Metals Products, a part of the $19 billion China Minmetals Corporation along with its Indian partners, Kelachandra Group and Sigma Minmet Ltd, will produce two million tonnes (mt) of iron ore pellets in a plant to be set up in Koppal in north Karnataka. The Chinese investors will hold the controlling take of 55 per cent in the venture.

Mr. Gopi Ramanathan - Director

28th Feb 2008