Pisces Exim India is planning to expand its operations in India and other Asian countries with an investment of Rs10bn ($199m) over the next two years.
The firm will invest around Rs7bn ($139m) to acquire mines in India and will invest around Rs3bn ($60m) to form joint ventures in Malaysia, Indonesia and Thailand.
Go deeper with GlobalData
Pisces Exim’s managing director Soumit Jena told the Press Trust of India that the firm is planning to capture 20% of the iron ore export market in India, with 10Mt out of 50Mt of annual exports by next fiscal year.
The firm is currently exporting iron ore and ore fines to the Middle East and China through the state-run PEC, and is expecting to increase its export capacity from 5.7Mt to 6Mt this year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
