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Tsingshan Holding to invest USD 3 billion in Dholera for en electric battery plant- The 20th China (Guangzhou) Int’l Plate metal, Bar, wire, Metal Processing &Setting Equipment Exhibition
1/22/2019 金属板材展-棒材-线材展 -plate metal expo-wire expo |
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Economic Times reported that chinese steelmaker Tsingshan Holding Group will invest USD 3 billion in Dholera; its founder Guangda Xiang announced at the Vibrant Gujarat 2019 summit in Gandhinagar. The company is also an emerging electrical vehicle battery producer and is considering setting up an electrical battery plant in Dholera to cater to the fast developing auto industry in lndia: he said. The decision was taken after company officials and representatives visited the Dholera site in the recent past.
The investment will be made in conjunction with their Indian JV partner Chromeni Steel. The company is currently involved in the setting up of a major stainless steel complex in Mundra, Kutch district. It undertook this project after signing an MOU during the Vibrant Gujarat Summit 2017. Within a year of signing the MOU, the company began the construction of the first phase of the project which is slated to be completed in a record time of 14 months.
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