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Tata Steel Limited, the world's 10th largest steel company and a subsidiary of Tata Steel Group, will increase investment in China by 5 per cent in 2012 as it seeks to maintain market share, the Managing Director, Mr Hemant Madhusudan Nerurkar, said.
Chinese steel industry has developed very well in the last 10 years at an “admirable” pace and he expects the company's business in China to grow at the same rate as the country's steel consumption growth, by 5 to 7 per cent year-on-year, Mr Nerurkar told the official China Daily .
Revenue from China contributed no more than 3 to 4 per cent to the company's revenue in the latest fiscal, he said.
Apart from local demand, Tata Steel also expects to export more products from its Chinese mills to Europe and Japan, both markets that require external supplies, he said.
At present, the company isn't considering entering into partnerships with Chinese steel players, Mr Nerurkar said, adding that it has not ruled out the possibility of developing downstream partnerships at some point in the future.
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