The Russian NLMK group wants to build in India a large metallurgical enterprise. For the first time this was announced last year. The company offered to build the plant, which produces electrical steel. The size of the investment will be approximately a little less than 8 billion rubles. Currently, the group has sent an appeal to the government of Maharashtra. Now called the new investment amount. It will amount to about 55 billion rubles. It is expected that will implement the project in 2022. Again, if permission is obtained from local authorities.
The company sent a request to the government for permission to make a feasibility study of the project. It is reported that the authorities are currently studying in detail its. In addition, the issue regarding grant of land. Discussed, the area under construction and other characteristics. The future enterprise is planned to be built in the industrial area. It is called Aurangabads Auric. This is the territory of Delhi-Mumbai industrial corridor.
It is known that NLMK is a leading importer of steel products in India. We are talking about electrical steel. In the Indian market significantly increasing demand for such products. This is due to the increasing demand for electricity. The country is rapidly being built transformers. The same applies to other types of electrical equipment. NLMK is a great opportunity to move to competitors. She is now in the lead, but can take a more confident stance. For this purpose there are all preconditions. However, the last word for the Indian government. It is not excluded that you may receive another, better offer.