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| TATA Steel |
The planned JV service is likely to commence act in the subsequently two years by the side of the Tata Steel’s existing piece in Jamshedpur.
“The JV with Nippon will be signed by January this time and we expect to start production from this service by first 2013,” Tata Steel Managing Director Mr H M Nerurkar thought at this point.
The JV with 50:50 assets would approach up by the side of an investment of Rs 2,400—crore. The facility’s opening scope would be 0.6 million tonnes (MT) apiece time, Mr Nerurkar thought.
It aims to capture the growing demand in place of high-tensile auto-grade steel in India. Nippon, the world’s flash chief steelmaker will move its knowledge in place of producing auto-grade steel.
“The demand in place of small cars in India is quickly growing and we aspiration to tap this growing marketplace,” Mr Nerurkar thought accumulation, Nippon’s knowledge would help Tata Steel to tap the Japanese automobile makers in the Indian automobile marketplace.
Global automobile majors like Honda, General Motors and Hyundai Motors at present import steel in place of making cars.
“We hope the another service will cater to the demand of the growing automobile industry in India,” he thought. Japan’s JFE Steel Holdings has recently pulled out up a 14.9 apiece cent stake in JSW Steel to kind auto-grade steel. – PTI