China steelmaker eyes India for $2bn plant

October 13, 2011 15:04

Anshan Iron and Steel, one of China's biggest steelmakers, is studying the feasibility of a $2bn steel plant in India in what would be the first move into the country by a large Chinese steel producer.

The report in the Financial Times says, Zhang Xiaogang, president of Anshan, believes that having an 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.

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