Tata Metaliks inks JV with Japan cos
Foundry-grade pig iron producer Tata Metaliks Ltd (TML) declared it's a joint venture agreement with Japan's Kubota Corporation and Metal One Corporation to set up a Rs 150 crore ductile iron (DI) pipes manufacturing unit at Kharagpur. The company would hold 51 per cent equity in the joint venture Tata Metaliks Kubota Pipes Ltd, while Kubota and Metla One would own 44 per cent five per cent respectively. TML Chairman T Mukherjee said in the first phase the unit would produce 1,10,000 tons per annum, a part of which would be exported.
The proposed manufacturing facility would use liquid pig iron from TML's existing mini-blast furnace and would be operational by the fourth quarter of 2008-09. Mukherjee said Kubota would bring in technology from Japan for manufacturing DI pipes. Kubota Corporation President Daisuke Hatakake said the partnership would help in export of DI pipes across the globe.
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