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Vedanta Resources Seeks Partners for Foray into Indian Steel Manufacturing
BANGALORE, INDIA--July 21, 2009--Researched by Industrial Info Resources (Sugar Land, Texas--Vedanta Resources plc (LSE:VED) (London, United Kingdom) has announced plans to enter the steel manufacturing sector in India by forming a joint venture. The company is reportedly in talks with European and Japanese steel manufacturers to explore the possibility of establishing a joint venture. While details of the proposed investment, timeline, and location have not been disclosed, Vedanta has stated that since its core competency is iron ore production, its role in the partnership would be that of an iron ore supplier.
Other companies featured: Mitsui & Company (TYO:8031), Nippon Steel Corporation (TYO:5401), Jinan Iron and Steel Company (SHA:600022), Hindustan Zinc Limited (BSE:500188), Tata Steel Limited (BSE:500470), Sterlite Industries India Limited (NYSE:SLT)
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Industry Segment: Metals & Minerals
Word Count: 1020 Words
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