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India's Mining Industry Looks to Attract $22 Billion in Foreign Investments, an Industrial Info News Alert

Posted on: Monday, 14 July 2008, 06:00 CDT

Researched by Industrial Info Resources (Sugar Land, Texas) -- India's mining industry is looking to attract investments of about $22.4 billion by 2009 from international mining and exploration giants and financial investors. The market for mining and mineral-processing equipment in India is estimated at $5 billion for the next five years. Reliance Power Limited (BOM:532939) (Mumbai) is involved in projects to develop, own and operate captive coal mines, making it a significant user of state-of-the-art mining equipment and technology. On the supply side, Metso Minerals recently secured an $18 million contract from JSW Steel Limited (BOM:500228) (Mumbai) for a plant in Vijayanagar, and Leighton Holdings (ASX:LEI) (New South Wales, Australia) has signed a $600 million contract to develop and operate the open-cut Chitarpur coal mine in Jharkhand. Caterpillar Incorporated (NYSE:CAT) (Peoria, Illinois) and Vedanta Resources PLC (LSE:VED) (London) also have announced major investment plans to ramp up their operations in India.

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Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services. For more information send inquiries to metalsandmineralsgroup@industrialinfo.com or visit us at www.industrialinfo.com.

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 Contact: Joe Govreau 713-783-5147  

SOURCE: Industrial Info Resources

Source: MARKET WIRE

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