Nippon Steel, Tata discuss joint production in India

Tuesday, 27 March 2007, 05:00 Hrs
Printer Print Email Email
Tokyo: Nippon Steel Corp of Japan has begun discussing a business alliance with India's Tata Steel to produce steel products for vehicles made in India, the Japanese company said on Tuesday.

The two firms would jointly supply steel to Japanese automakers with production bases in India, including Suzuki Motor Corp, Honda Motor Co and Toyota Motor Corp.

Japan's largest steelmaker and India's largest private manufacturer have cooperated in technical aspects in steel-sheet production for automobiles since 2002.

The joint venture was expected to meet the growing demand of steel sheet for the Japanese automobile industry in India as the automakers' plan to shift from importing to local procurement of high-grade steel.

Tata, which agreed in January to acquire the Anglo-Dutch steel giant Corus Group, also formed a technical alliance on steel sheet for vehicles in 2002 with Arcelor SA of Luxembourg. Four years later, Arcelor merged with Mittal Steel to form Arcelor-Mittal, the world's largest steelmaker.
Source: IANS
SPOTLIGHT
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..