The Group is setting up a Steel Manufacturing unit by name Xindia Steels at Koppal, Karnataka with Chinese collaboration. The total Project cost at completion is expected to be 2 Billion US$.
Xindia Steels Limited is a joint venture between Xinxing Heavy Industries Group a part of the Xinxing group of companies , China National Metal Products, Promoters of Sigma Minmet Ltd , The Manasara Group and The Kelachandra Group.
Xindia Steels aims to be among the lowest cost producers of Iron and Steel Finished products. Xindia would achieve this by leveraging on access to the latest cutting edge steel technology, economical processing and utilization of raw material.
Xindia Steels Limited is setting up this Joint Venture Steel Complex in three phases. The first phase will see the construction of a 0.8 million ton pellet plant at Koppal - Karnataka.
The second phase follows immediately thereafter by setting up a blast furnace with the Pipe plant to manufacture Ductile Iron Pipes and Pig Iron (a key raw material for Steel plants and foundries).
The third phase will see Xindia steels setting up of a 2.5 million expanding to 5 mil tons steel plant which would include a power plant to use the Blast furnace gas , as well as expanding the pellet plant to 6 million tons.
Additional products are planned through Joint Ventures