Japanese steel giants tie up with Indian firms

摘要

Last week, Tata Steel, India's largest producer, announced a joint venture (JV) with Japan's Nippon Steel for production and sales of automotive cold-rolled flat products at Jamsnedpur. The JV is expected to invest 400 million dollars (1,850 crore rupees) to set up an automobile venture in India. For, analysts were told by Koushik Chatterjee, group chief financial officer of Tata Steel, the undisputed world leader in cold-rolled output was Nippon Steel. Unlike European companies, which prefer galvanised steel, cold-rolled steel is used in India.