Japanese steel producer Sumitomo Metal Industries Ltd. (Sumitomo Metals) and India's Bhushan Steel Ltd. (Bhushan Steel) have signed a memorandum of understanding ((MoU) for the collaboration of Sumitomo Metal in the Orissa Project - an integrated steel plant currently being built by Bhushan Steel in the northeastern Indian state of Orissa.
According to the press release issued by Sumitomo Metals, the company will provide technical assistance to Bhushan Steel during the construction and operation of the Orissa Project, and also in the production of steel sheets for automobiles. Sumitomo Metals has provided technical assistance and supplied steel sheets to Bhushan Steel since 1997. Sumitomo also added that this latest collaboration is expected to boost the relationship between the two sides.
The Orissa Project's initial capacity is expected to be 2.2 million mt per annum when it is completed in 2008.