December 02, 2008

Severstal eying opportunities in India

It is reported that Severstal is planning to tap opportunities in India, keeping in view its growing economy and a huge market.

Mr Alexei Mordashov CEO of Severstal said that "India has huge opportunities which we would like to explore. We are still in the process of looking at it."

Severstal has also evinced keen interest in China in view of its market and growing sophistication of steel demand. Mr Mordashov said that "To be more effective, we will concentrate our efforts in China on supplying high quality niches and may be, if we decide to invest in China, we could follow this strategy."