The Hindu Business Line : Mahindra Intertrade sets up steel service centre in Sharjah

AS part of the initiative to expand Mahindra group's presence globally, Mahindra Intertrade Ltd (MIL), a predominantly steel trading company of the Mahindra Group, has set up a steel service centre — Mahindra Middle East Electrical Steel Service Centre — in Sharjah, for processing electrical steel. It has also entered into a strategic alliance with Nipon Steel Corporation (NSC). NSC, which will be an equity partner in this venture, will supply the necessary raw material, according to a statement from the company made available to Business Line.

Mr R.R. Krishnan, Managing Director, Mahindra Intertrade, said: "Given the product and processing expertise, MIL has ventured outside India to add critical value chain for the transformer industry. An efficient model has been built in to service the customers in West Asia and the neighbouring regions including Africa."

The transformer industry is poised for a major growth in West Asia and the new venture will, therefore, have a critical role to play. The service centre has been set up in a record nine months time and has already made its first commercial dispatch to ABB, Riyadh.

Mr Shinya Higuchi, GM, Nippon Steel Corporation, said that this region is a growing market for grain-oriented electrical steel, a key material for transformers. He said the new service centre will greatly improve service to the existing clients and will also contribute to sales to new clients in West Asia. Mr Anand Mahindra, Vice-Chairman and MD, Mahindra and Mahindra Ltd, Sheikh Abdullah bin Mohammed Al Thani, Chairman of Saif Zone and Mr Higuchi attended the inaugural ceremony.

MIL, a 100 per cent subsidy of M&M is a $115-million company having grown at 37 per cent Compound Annual Growth Rate in the last three years. As apart of its global initiatives, MIL has already set up a residence office in Uganda and East Africa, for increasing its business in that region.

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