Japanese steel trader Metal One Corporation and Keiyo Blanking Kogyo Co., Ltd. has started construction of a steel plate processing joint venture in India to meet the increasing plate demand for the construction machinery sector.
According to the company statement, the new plant, 60 percent owned by Metal One and 40 percent owned by Keiyo Blanking Kogyo, is expected to be launched in August 2012. Total investment in the plant is planned to be INR 1.75 billion ($38.12 million).
Processing capacity at launch time will be 2,000 mt per month. The joint venture will supply such products as melt-cut parts, secondary processing products, and composite parts, primarily for Caterpillar Inc. and other construction machinery manufacturers.