The Hindu : Business : Tata Metaliks forms JV

Online edition of India's National Newspaper
Friday, Mar 30, 2007
ePaper

Business

Business

Tata Metaliks forms JV

Special Correspondent

To produce ductile iron pipes

KOLKATA: The Tata group on Thursday announced a fresh investment of Rs. 150 crore for setting up a ductile iron (DI) manufacturing unit in Kharagpur. It will come up as a joint venture between Tata Metaliks and Kubota Corporation of Japan, T. Mukherjee, Tata Steel Deputy Managing Director, and Tata Metaliks Chairman, said, addressing a press conference here on Thursday. The pipes would be used for water supply. The project, requiring 40 acres, will come up within the Tata Metaliks facility in Kharagpur, where the company has 190 acres. This is the fourth investment by the group in West Bengal, since the announcement of the Rs. 1,000 crore Tata Motors investment in 2005.

Besides a 44 per cent stake by Kubota, which is one of the world leaders in DI pipe making, Metalone, a Japanese trading company, would hold a five per cent stake with the Tatas holding 51 per cent. A part of the output would be exported.

Tata Metaliks, which has a pig iron unit in Kharagpur, has asked for about 300 acres for setting up a mini steel unit. "The process of land acquisition is being done by the West Bengal government," Mr. Mukherjee said.

Printer friendly page
Send this article to Friends by E-Mail

Business

News Update

Stories in this Section