SOURCE: Industrial Info Resources

March 03, 2008 05:00 ET

Chinese Investing $2.2 Billion in Indian Iron and Steel Project, an Industrial Info News Alert

JOHANNESBURG, SOUTH AFRICA--(Marketwire - March 3, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- In a joint venture between Chinese and Indian companies, China's Xinxing group and China National Metal Products will invest $2.2 billion in the construction of an iron ore pellet plant in Karnataka. The project, Xindia Steels, will be carried out in two phases with Indian partners Manasara Investments, Kelachandr Group and Sigma Minmet. The Indian companies will control 45% of the project, and the Chinese firms will hold 55%.

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