Tata Steel, NSSMC JV starts production

A joint venture between Tata Steel and Nippon Steel & Sumitomo Metal Corporation (NSSMC) today started production of cold-rolled sheets for catering to automotive sector from the Rs 2,750 crore unit in Jamshedpur.
The unit, which was inaugurated today jointly by Cyrus P Mistry, Chairman of Tata Sons, and NSSMC Chairman Shoji Muneoka, has an annual capacity to produce 6 lakh tonnes of high-quality cold rolled sheets exclusively for the automotive industry, including outer panels and high tensile sheets.
"While Tata Steel has developed the infrastructure for the project, NSSMC has provided equipment and state-of-the-art technology. It has been set up at a capital investment of about Rs 2,750 crore," Tata Steel said in a statement.

The JV, Jamshedpur Continuous Annealing and Processing Company Pvt Ltd (JCAPCPL), will produce automotive-grade continuous annealed products, and source steel from Tata Steel.
Tata Steel said it enjoys 42 per cent share of the Indian market for automotive steels. Through the 51:49 JV, both Tata Steel and NSSMC are expected to respond appropriately to the increasing demand of Indian automakers for high-grade, high- quality automotive steel sheets.
"This line will produce products that will be a great support to Indian Automobile Industry. JCAPCPL will establish high quality levels and production standards that we hope will be path-breaking and record-setting," Mistry said.

Muneoka said: "I have no doubt that JACAPCPL will take advantage of strengths of both Tata Steel and Nippon steel and supply steel that will definitely satisfy our customers. Through JCAPCPL, we will contribute to the Indian Automobile Industry and eventually to the whole Indian economy.