India can emerge as promising steel market for European, Chinese firms

India can emerge as promising steel market for European, Chinese firms
18/05/2016 , by , in ALLIED

European and Chinese steel-makers should consider relocating their excess capacity to India where demand is still increasing, the chairman of Indian firm Jindal Steel and Power said.

“India plans to almost double annual steel production capacity to 200 million tonnes by 2025, Naveen Jindal told in a conference in Beijing,” reported by Reuters.

His own firm is planning to raise capacity from 8 million tonnes a year to 15 million tonnes in the next 2 to 3 years, he added.

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