Chinese Tsingshan stainless steel mill in India starts fully operation
In recent years, with the growth of the Indian economy, the demand for stainless steel in lots of industries has become more and more vigorous.
The Indian stainless steel plant invested by Chinese Tsingshan Group had been put into operation, including cold rolling, hot rolling and smelting plants. The total investment of this project was about US$1.7 billion.
As India had chromium as its natural resources, it could greatly reduce production costs. Investing in stainless steel plants also brought nickel resources, which not only solved the problem of local mineral shortage in India but also further improved the global competitiveness of the Indian stainless steel industry.
In addition to satisfying Indian domestic demand, the plant might also bring strong competitive pressure to Asian stainless steel manufacturers in the future.
