NSC and Tata discuss joint steel production in India

Japanese steel giant Nippon Steel Corporation (NSC) is reportedly in talks with Indian steelmaker Tata Steel on the issue of joint production of automotive sheet steel in India. According to the information received, Nippon Steel and Tata Steel are planning to invest about Yen 50 billion ($423 million) to build a plant with an annual capacity of around one million tons of thin sheets, mainly used in car bodies. The companies will supply the plant's output to Japanese automakers such as Suzuki Motor, Honda Motor and Toyota Motor, which have production bases in India.