Russian steel major Severstal looking at opportunities in India

Russian steel major Severstal looking at opportunities in India
PTI
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First Published: Mon, Sep 24 2007. 05 57 PM IST
Updated: Mon, Sep 24 2007. 05 57 PM IST
New Delhi, 24 September Russian steel giant Severstal is planning to tap opportunities in India, keeping in view its growing economy and a huge market.
“India has huge opportunities which we would like to explore. We are still in the process of looking at it,” Steel Business Briefing (SBB) reports quoting Severstal CEO Alexei Mordashov as saying.
The company has also evinced keen interest in China in view of its market and growing sophistication of steel demand.
“To be more effective, we will concentrate our efforts in China on supplying high quality niches and may be, if we decide to invest in China, we could follow this strategy,” he said, but described as premature any fixed structure of investment.
The Russian steelmaker does not see any problem in its exports due to the current strength of world markets, SBB quoted Mordashov as saying.
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First Published: Mon, Sep 24 2007. 05 57 PM IST