| Chinese metal and mineral resources company, Sinosteel Corporation, is seeking to set up a steel plant in eastern India with a capacity of between 3-5 million tonne per annum. This will be the first entry of a Chinese steel company into India and the company's first foray into steel making. |
| The Chinese government-owned firm, which is China's second largest ore trader, has zeroed in on Orissa, Jharkhand and West Bengal for the proposed plant though it has made initial talks with only West Bengal. |
| "We definitely want to be present in the dynamic Indian steel sector. We have already met the West Bengal chief minister in July evincing interest in a steel plant in the state. We also spoke to the Jharkhand secretary for mines and we plan to meet the Jharkhand government shortly," Sinosteel India managing director Wang Hongsen told Business Standard. |
| He added that Sinosteel India was also looking for joint venture partners from the steel and mining industry to assist it in its project. |
| Sinosteel India, the subsidiary of Sinosteel Corporation, was incorporated last year though it has had a presence in India since 1991. It is involved in trading in a range of minerals and mineral products . |
| Hongsen said the president of Sinosteel Corporation Tianwen Huang would lead a delegation to India next month to meet the chief ministers of all three states to discuss the project with them. |
| After this, the board of the company would take a decision on the best location to set up the plant. Hongsen said the company hoped to finalise all its plans for India by the end of the year. |
| Queried on possible investments, he said that it was too premature to fix an exact investment amount and this would be decided once the plans became clearer. |
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