BlueScope Steel to invest A$100 million in India

BlueScope Steel to invest A$100 million in India

According to the statement released by Australian steel producer BlueScope Steel, the company will invest Rupees 3.4 billion (A$100 million or $77.8 million) to build three new manufacturing facilities at Pune, Chennai and New Delhi (India). The new facilities will deliver LYSAGHT® and BUTLER™ quality branded products to Indian construction industry. The planned facility in Pune will be operational in 18-24 months time and will offer BUTLER™ products, whereas the facilities in Chennai and New Delhi will offer LYSAGHT® products to customers. The company will establish 18 new sales offices throughout India. Moreover, BlueScope Steel and Indian steel producer Tata Iron and Steel Corp (TISCO) are currently conducting a feasibility study to explore the possibility of forming a 50-50 joint venture metal coating and a paint line facility in India.