Indian private firms and PSUs such as Tata Steel and SAIL can forge partnership with the Czech Republic to manufacture high-quality CRGO/CRNGO steel mostly used in construction of power electrical products such as transformers, a top official said today.
"The Czech Republic is home to two of the 12 global factories making this steel product whereas India is currently importing three million tonnes of such a high tech item," Department of Heavy Industry Secretary Rajan Katoch said.
"Our companies like SAIL, RINL, Tata Steel and the Jindals can be potential partners for manufacturing the same with Czech companies."
The state-owned SAIL is interested in using Czech expertise in production of CRGO/CRNGO steel and exploring opportunities for a joint venture with the Czech Republic in the highly specialised area, engineering exports body EEPC India said.
The issue figured prominently in the minutes of the meeting of the India-Czech joint working group on heavy industries, which coincided with an event organised by EEPC India.
For two of its blue-chip PSUs -- Heavy Engineering Corporation (HEC) and HMT -- the government is seeking investment and technology transfers from the Czech Republic.
HEC was established in 1958 in collaboration with the erstwhile USSR and Czechoslovakia to drive industrialisation.
In addition to the mentioned advantages, the plant is
strategically located close to the port, thereby facilitating imports and exports. There are no stainless steel manufacturing plants in the vicinity of over 150 to 200 km. Hence, the scrap generated in the southern belt of India is easily available and at much lower prices due to the Freight Cost advantage.
Mr. Vinod Goel also has major plans of expansion in stainless steel product manufacturing.Twenty First Century is in the process of setting up a plant to manufacture pipes and tubes in stainless steel. The plant will be a fully integrated set-up with melting, rolling, bright bar manufacturing along with seamless pipe and tube production. These in-house planned operations will help Twenty First Century achieve maximum value addition.
Throwing light on the company's expansion plans, Mr. Vinod Goel, said, "We have all the modern facilities and equipment required for manufacturing stainless steel welded pipes and tubes. The finished product will not only service the domestic demands, but will also be exported to the developed markets of Europe and America."
Twenty First Century, had also acquired a plant named Mysore Kirloskar. The plant was bought in High Court auction for a sum of Rs. 65 crores. Spread over 65 acres of land, this plant was inaugurated by Jawaharlal Nehru before Independence.
