India to Build $3 Billion Steel Plant in Indonesia, Buy Coal
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India plans to invest $3 billion to build a steel plant in Indonesia and buy coal from the Southeast Asian nation as part of an initial accord.
International Coal Ventures Ltd., combining Indian state-run metal and energy companies, will sign an agreement for the plant, which will start with a capacity of 3 million metric tons, Steel Secretary P.K. Misra said today in an interview before the signing ceremony in New Delhi. Indonesia will supply coal to the plant and to the power producers in the group, he said.