Sesa conducting feasibility to set up steel plant in K'taka.

Sesa Sterlite said it is carrying out a feasibility study for setting up a steel plant in Karnataka even as it sees a lot of opportunities to improve and strengthen its iron ore business in the world's fourth largest steel-making nation.

'We are doing feasibility study to assess what will be the right size, configuration and what will be the product mix,' company CEO Tom Albanese told reporters on the sidelines of an event organised by Assocham.

The plan to foray into steel sector of India, which aims to treble its capacity to 300 million tonnes per annum (mtpa) by 2015, falls under the long-term plan of the company which does not confine itself to just iron ore mining, he said. A source in the company had earlier said that the NRI billionaire Anil Agarwal-led Sesa Sterlite was mulling a 5 million tonne per annum (mtpa) steel mill in Karnataka, which may roughly entail an investment of Rs. 30,000 crore.

BS