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Caparo India, Itochu to set up JV

TOKYO: Lord Swraj Paul-promoted Caparo Engineering India has entered into a joint venture with Japan-based Marubeni Itochu Steel Inc to set up an automotive blank manufacturing unit near New Delhi with an initial investment of Rs. 18 crore. An agreement was signed between Caparo India Chairman Angad Paul and Itoch Steel President Tsunekatsu Yonezawa here. The joint venture was christened Caparo Marubeni Itochu Steel Inc.

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