Business Daily from THE HINDU group of publications
Saturday, July 21, 2007
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Business Daily from THE HINDU group of publications Saturday, July 21, 2007 |
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News Update as at 11.00 hrs (IST)
Corporate Tata Metaliks inks jt venture with Japanese firms KOLKATA: Foundry-grade pig iron producer Tata Metaliks Ltd (TML) on Friday said it has signed a joint venture agreement with Japan's Kubota Corporation and Metal One Corporation to set up Rs 150 crore ductile iron (DI) pipes manufacturing unit at Kharagp ur. The company would hold 51 per cent equity in the joint venture Tata Metaliks Kubota Pipes Ltd, while Kubota and Metla One would own 44 per cent five per cent respectively. TML Chairman T Mukherjee said in the first phase the unit would produce 1,10,000 tons per annum, a part of which would be exported. The proposed manufacturing facility would use liquid pig iron from TML's existing mini-blast furnace and would be operati onal by the fourth quarter of 2008-09. Mr Mukherjee said Kubota would bring in technology from Japan for manufacturing DI pipes. Kubota Corporation President Daisuke Hatakake said the partnership would help in export of DI pipes across the globe. - PTI
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