Xindia Steels, a multinational JV company with partners located in the China, USA and India plans to set up an integrated steel making facility in India.
The company plans to invest around Rs 8,500 crore to set up an integrated steel making facilities with a capacity of 2.5 million tonne. Currently, it is setting up a 0.8 million tpa iron ore pellet plant under Phase I at Koppal, Karnataka. In the Phase II, it is planning to ramp up the production to six million tpa of BF and DR grade pellets.
The promoters of the company are Xinxing Heavy Industries, a part of the Xinxing Group of companies, China National Metal Products a part of China Minmetals Corporation, the Kelachandra Group and the Manasara Group.