Tata, BlueScope merge forces

Tata, BlueScope merge forces

Indian Tata Steel and Australian BlueScope Steel agreed to set up a 50:50 joint venture to develop their steel coating businesses in India and South Asia. The head office of the joint venture will be located in Pune, India, but a metal coating and painting facility with 250'000 metric tons annual coating capacity and 150'000 metric tons annual painting capacity will be built in Jamshedpur with Rupees 9 billion (approximately $200 million) investment. The plant will be commissioned by mid 2008. The joint venture will also assume ownership of the three roll-forming facilities BlueScope Steel has under construction at Pune, Chennai and New Delhi. The joint venture will offer a comprehensive range of steel products for building and construction applications.