Union Minister for Steel, Beni Prasad Verma today said that India has signed an implementation protocol with Russian company to set up a steel plant in Karnataka. The project will cost about 3 billion US dollar.Briefing reporters in New Delhi, Mr. Verma said that the protocol was signed between National Mineral Development Corporation, NMDC and Russian Steel Company, Severstal.He said that it was signed during his recent visit to Russia with a delegation of his Ministry. He said that the initiative will help enhancing steel production in the country. Mr. Verma said that the protocol defines the initial plant capacity to be 3 million tones with steel.During his visit, he also requested the Russian side to enhance cooperation to meet coking coal requirement for the Indian Steel industry.