Tata Steel and Nippon Steel Corp are forming a joint venture to build a continuous annealing and processing line (CAPL) at Tata’s steelworks in Jamshedpur, eastern India.
Tata Steel and Nippon Steel Corp are forming a joint venture to build a continuous annealing and processing line (CAPL) at Tata’s steelworks in Jamshedpur, eastern India.
In a stock exchange announcement, Tata said the new unit will enable it to produce automotive-quality cold rolled sheet. Tata will hold 51% and NSC 49% of the JV.
The arrangement also involves Nissan transferring its technology for producing CR sheet for auto applications including skin panels and high-tensile sheet.
The CAPL will have a production capacity of 600kt/y and should start operating in 2013. The two companies plan to discuss further collaboration in fields such as galvanizing lines for auto sheet or upstream operations.
