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Tata Metaliks plans facility in Kharagpur
Our Bureau
Kolkata
March 29
Tata Metaliks Ltd, the country's largest producer of foundry grade pig iron, on Thursday announced plans to set up a ductile iron (DI) pipe manufacturing facility in Kharagpur in joint venture with Kubota Corporation and Metal One Corporation, both of Japan, at an estimated investment of Rs 150 crore.
Addressing a news conference here on Thursday, Dr T. Mukherjee, Chairman of Tata Metaliks and Dy. Managing Director of Tata Steel, said Tata Metaliks would hold 51 per cent of the equity in the joint venture while Kubota Corporation and Metal One Corporation would, respectively, hold 44 per cent and five per cent of the equity in it. Besides equity participation, Kubota will also bring in technology in DI pipe manufacturing and provide the best operational practices of Japanese standards.
Dr Mukherjee said the joint venture would be a subsidiary of Tata Metaliks and produce 1,10,000 tonnes per annum of DI pipes of international quality, a part of which would be exported. The facility will use liquid pig iron from Tata Metaliks' existing mini blast furnace and the facility was expected to be operational by 2009.
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