THE RULAS-CONTROLLED Essar Steel is exploring options of building two steel projects in Indonesia for 1 billion dollars, a move that will give the third-largest private steelmaker in India a chance to integrate its operations as Essar already has a value-added steel products mill in that country. Senior executives from Essar met Indonesian government officials last week and presented a proposal to set up an iron ore processing and pellet processing plants in the Central Kalimantan province, said sources involved in the negotiations.
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