Japanese steelmaker Nippon Steel Corporation (NSC) has recently announced that it is establishing a new automotive steel pipe business in India.
According to a company statement, Nippon's Thailand-based 60.5 percent subsidiary Siam Nippon Steel Pipe Co., Ltd will build a base for manufacturing and selling electric-welded pipes for two-wheeled and four-wheeled motor vehicles in the state of Rajasthan in the northern part of India.
Nippon is investing in the country with a view to securely capturing demand of the automotive steel pipe market in India where rapid economic growth is sustained. Japanese automakers have been actively expanding their capacities, offering the prospect of a rapid expansion of the markets for pipes of medium and high grades in which Nippon possesses competitive strength, the company said.