TISCO and BlueScope to form a joint venture

TISCO and BlueScope to form a joint venture

Tata Iron and Steel Corp (TISCO) is expected to form an 50-50 joint venture with BlueScope to produce downstream products, mainly for the construction and building industry. As previously reported by SteelOrbis, BlueScope has announced that it would invest Rupees 3.4 billion (approx. $77.8 million) to build three new manufacturing facilities at Pune, Chennai and New Delhi (India). BlueScope had also stated that it was on negotiations with TISCO for a 50-50 joint venture to form a metal coating and paint line facility in India. If this joint venture materializes, the three new plants will be also formed as the part that joint venture. TISCO officials also confirmed that negotiations are continuing and a decision will be taken in a short time.