Posted on 01 Feb 2010
Nippon Steel Corp. said Thursday that it agreed with Tata Steel Ltd. to jointly produce cold-rolled steel sheet for automobiles starting in fiscal year 2012.
The two firms are to set up a joint venture in June, with Nippon Steel contributing 49 per cent of the capital and Tata providing the rest.
Through the venture, the partners plan to invest 30-35 billion yen (US$334.3-389.97 million) to set up a production facility at Tata's plant in the eastern Indian city of
The facility is expected to sport an annual output capacity of 600,000 tons, or enough steel sheet for 1.6 million cars.
