Support The Moscow Times!

Severstal Invests in India

MUMBAI — Indian state-owned NMDC said Thursday that it would partner Severstal, Russia’s largest steelmaker, to build a $5 billion plant in India to meet rising demand in Asia’s second-fastest major growing economy.

Severstal and NMDC, Asia’s third-largest iron ore producer, will sign an agreement Friday to build the 5-million-metric-ton plant in the southern state of Karnataka, said Swaminathan Thiagarajan, finance director of the Hyderabad-based company. 


Read more

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.