Asia | July 15, 2016

Russian steel giant looking to invest $1B in India

India, Hyderabad: Having held a number of meetings with Russian officials and industrialists this week, India’s Chief Minister of Andhra Pradesh made an appeal for investments to one of the Russia’s largest steel companies, Novolipetsk Steel (NLMK).

 

India, Hyderabad: Having held a number of meetings with Russian officials and industrialists this week, India’s Chief Minister of Andhra Pradesh made an appeal for investments to one of the Russia’s largest steel companies, Novolipetsk Steel (NLMK).

Director of NLMK’s electrical steel division, Valery Shevelev, revealed that the company is looking for possibilities of expansion in India and is keen to invest $1 billion, reports The New Indian Express.

NLMK primarily produces flat steel products, semi-finished steel products and electrical steels.

Source: The New Indian Express