Vedanta's steel plan

Mining giant Vedanta is all set to diversify into steel business. Sesa Goa Ltd in which Vedanta has the controlling share, has begun negotiations with Japanese and European companies to set up a steel plant in India.

Sesa Goa, an iron ore producer, recently acquired VS Dempo and Co Ltd (another iron ore mining company in Goa) and has the capacity to produce 50 million tonnes iron ore. Anil Agarwal, chairman, Vedanta Resources, said the ore could easily feed a 10-million-tonne steel plant.