NSL Consolidated Ltd progressing on greenfield steel plant in India

NSL Consolidated Ltd progressing on greenfield steel plant in India

NSL Consolidated Ltd (ASX:NSL) is making significant progress on a binding joint venture agreement for the establishment of a greenfield steel making plant in Andhra Pradesh, India.

In October 2016, a high level Chinese delegation will visit the proposed steel and pellet plant locations, NSL’s operations and other critical Andhra Pradesh infrastructure opportunities.

The company had signed an agreement In June with the Wei Hua Group, a heavy equipment company in China with US$1 billion in sales, for the establishment of the steel making plant.

NSL is currently progressing on the completion of a pre-feasibility of the front end of the steel plant, being a pellet plant.

This is expected to be completed by 31 December 2016, with the steel plant prefeasibility to follow shortly thereafter.

The Chinese delegation includes China Communications Construction Company, Dalian Huarui Heavy Industry Group, China Metallurgical Group Corporation and Wei Hua.

NSL has a successful track record of operating in India with its own mines and beneficiation plant, production and iron ore sales.

The company is targeting to grow its Andhra Pradesh mining, beneficiation and value added activities to in excess of 8 million tonnes per annum of iron ore.

NSL has already established offtake agreements with Indian companies JSW Steel (NSE:JSWSTEEL) and BMM Ispat.

It is worth noting that India is expected to become the world's second largest producer of crude steel in the next 10 years, as its capacity is projected to increase to about 300 million tonnes by 2025 from 81 million tonnes in 2013-14.

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

View full NSL profile View Profile

NSL Consolidated Ltd Timeline

February 28 2016

Related Articles

picture of steel mill
November 30 2017
Bushveld will have 59.1% of Vametco once it completes the buy-out of partner Yellow Dragon.
copper wires
April 12 2018
Leigh Creek will add to the cash being generated by New Mexico-based iron ore business Cobre to fund exploration and development opportunities elsewhere.
copper tubes
May 30 2018
The latest economic study at Parys Mountain has delivered some encouraging numbers against a backdrop of rising base metals prices

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © personabelovo.ru, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated.