Rupa builds joint venture company with NIF Ispat

Rupa builds joint venture company with NIF Ispat

According to recent market news, India's major hosiery products maker Rupa & Co Ltd enters steel business through establishing a joint venture company at Durgapur, West Bengal with cast iron products producer NIF Ispat Ltd. The joint venture company, which is called Neo Metaliks Ltd, will be shared by the two by fifty fifty. An official from Rupa stated that, the acquisition of the land at Durgapur to be finalized in 10 days and the investment to the region will amount Rupees 3 billion ($66.6 million) within next five years.