Sesa Goa plans $6.7 billion steel plants in India

Iron ore exporter Sesa Goa plans to invest up to Rs300 billion ($6.7 billion) to build steel plants in Orissa and Jharkhand, the Economic Times newspaper reported on Monday.                   
 

Sesa, a unit of London-listed Vedanta Resources, may tie up with a global steel producer for the projects, the newspaper reported, quoting Sesa Goa managing director PK Mukherjee.               
 

The company plans to set up a 5-million-tonnes a year steel plant in Orissa. Group firm Sterlite Industries had earlier signed a preliminary agreement with the state for the project.                 
 

Sesa also plans to build an up to 1.5-million-tonne steel plant in neighbouring Jharkhand, the paper said.                                            
 

Sesa Goa officials were not immediately available for comment.