NLMK says considers grain-oriented electrical steel plant in India

MOSCOW, Jul 26 (PRIME) -- Russian steelmaker Novolipetsk Steel (NLMK) is considering launching a U.S. $100–150 million plant producing grain-oriented electrical steel in India, a company spokesperson said in a statement on Friday.

“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 this week that NLMK is interested in carrying out the first, $900 million project in India.

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