Russian steelmaker Novolipetsk Steel (NLMK) is considering launching a $100-150-million plant producing grain-oriented electrical steel in India, a company spokesperson said in a statement.
“The project is in progress. We are considering locating a part of the grain-oriented electrical steel business. Investment can amount to $100-150 million. The decision has not been made yet,” the spokesperson said.
Indian media reported earlier that NLMK was interested in carrying out the first, $900-million project in India. (Prime/Ukrainian metal)