Jamshedpur Continuous Annealing and Processing Co Pvt Ltd (JCAPCPL) on Monday inaugurated its continuous annealing & processing line, a 600,000 tonnes per annum facility, for manufacturing automotive grade continuous products, at Tata Steel’s Jamshedpur works, Tata Steel said in a statement.

Cyrus P Mistry, Chairman, Tata Sons, and Shoji Muneoka, Chairman, Nippon Steel & Sumitomo Metal Corporation (NSSMC), were present on the occasion.

JCAPCPL, is a 51:49 joint venture of Tata Steel and NSSMC. This unit is India’s first continuous annealing & processing line, that will produce 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 the equipment and the technology. The project has been set up at a capital investment of about ₹ 2,750 crore. JCAPCPL will source steel from Tata Steel. Tata Steel currently enjoys a 42 per cent share of the Indian market for automotive steels.