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India eyes off NT resources
By Andrew Collins

Tuesday, 22/04/2008

The future of the Northern Territory's resources industry has been given a massive potential shot in the arm this week with an on the ground visit of one of India's biggest steel manufacturer's.

Bhushan steel, who already import coal from Queensland, are now roaming the Territory looking to shore up their supply of raw materials.

Vice president of Bhushan, Anil Ahuja, says they need raw materials, and need them quickly, so they can grow there steel making from one million tonnes a year to a production level close to 1000 per cent higher.

"The way we are putting up new steel plants...we have plans to go up to six million and ultimately to nine million by probably 2012, 2013," said Mr Ahuja.

And the Territory has the goods the company needs, according to Mr Ahuja.

"The Northern Territory can certainly play a major role...I'm told there's plenty of iron ore available and we are looking towards iron ore and if we can somehow have a joint venture with the people already having the tenements. Or I will be talking with the government authorities if we could get some iron ore tenements here, we would like to develop it and export it for our requirement back in India."

Mr Ahuja says as well as iron ore, Northern Territory zinc and bauxite are also on the company's radar. He says he's confident the company will achieve some results in the NT, given the company's track record in dealing with Australia.

"To be honest with you, I have travelled to more than 17 countries in the last two years to look for the resources for our coming steel plants and my very clear view is that Australia is the best kind of support we've got from the government. The Federal Government or the State Government it is tremendous and that's why we are here."

In this report: Anil Ahuja, vice president Bhushan Steel