NLMK promised to invest $1 bln in India

​NLMK intends to develop the production of electric steel and flat rolled products in India.

The Minister of the Andkhra-Pradesh state, N. Ch. Naydu, addressed to the management of NLMK in Russia upon the investment in India. In the framework of the Innoprom-2016 workshop in Yekaterinburg he met with the head of the electric steel division of NLMK, V. Shevelev. The latter said the plant plans to invest $1 bln into the metallurgical sector of India.

Mr. Naydu invited the head of NLMK to visit the Andkhra-Pradesh state and collect the information on natural resources.

Mr. Naydu also met with the Governor of the Sverdlovsk region, E. Kuyvashev, and showed his interest in the foundation of the Russia-India industrial cluster in Andkhra-Pradesh. The Governor said he will send a delegation to India for the assessment of perspectives of such a cooperation.

Mr. Naydu talked to the Governor of the Chelyabinsk region, B. Dubovitsky, an showed his interest in the enterprises of the metallurgical and car manufacturing sectors as well as products of agricultural producers of the Chelyabinsk region.