TISCO Steel plans foreign joint ventures

TISCO Steel plans foreign joint ventures

Further to the July 5 story reported by SteelOrbis, Tata Iron & Steel Corp (TISCO) has decided to establish multiple joint ventures to set up finishing mills in foreign countries. The company also plans to consolidate its Indian operations to produce more semi-finished products and less finished steel products. Accordingly, TISCO plans to export the semi-finished products to countries in which it sets up finishing mill joint ventures. TISCO is currently considering China, Vietnam, Indonesia, Phillipines, and Thailand. The company believes that these countries' steel consumption will experience huge growth in the short term and hopes to take advantage of this increased business potential. In India, the company is looking for an alternative area on the eastern coast to set up a greenfield project which will help TISCO increase its total capacity to 15 million tons by 2010 from its current 4 million tons.