It is reported that UK’s Vedanta Resources Plc and Larsen & Toubro Ltd will establish a joint venture on a 5-million-ton-a-year steel project investment in Eastern India.

Actually, one unite of Vedanta, Sterlite Industry has planned a 5 million-ton steel plant in Orissa state in India in as early as 2004. And on this Thursday the officials of Vedanta and Orissa’s government held a meeting for the steel project to be invested.

Global steel mills such as ArcelorMittal, Posco and Japanese steelmakers are aiming several different steel investments in India, inspectors said this nation has a very bright prospect in its steel sections.