Anshan Iron and Steel, one of China’s biggest steelmakers, is studying the feasibility of building a $2bn plant in India in what would be the first move into the country by a large Chinese steel producer.
Zhang Xiaogang, president of Anshan, told the Financial Times that involvement in India – probably as part of collaboration with other steel producers – was part of his effort to make Anshan the “most competitive steelmaker in the world” over the next five to 10 years.
He said the proposed plant – which it is hoped would make 2m-3m tonnes of steel a year – was part of an international strategy which also involved looking at the possibility of a new plant in an African country such as Nigeria.
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