Marubeni-Itochu Steel Inc. and JSW Steel, the largest privately-owned steel manufacturer in India, have jointly established a steel processing centre – JSW MI Steel Service Centre in Mumbai.
JSW MI Steel Service Centre, a 50:50 joint venture is currently constructing its fourth plant. The construction work is progressing well and the plant is scheduled to start operations in June.
The automotive sector in India has been relatively less affected by the Covid-19 pandemic compared to other industrial sectors, and the company’s performance has been strong.
The first plant of the joint venture is located near Pune in western India, while the second plant is located in Delhi. The third plant, located in Chennai, was originally wholly owned by Marubeni-Itochu Steel Inc. and has been incorporated into the joint venture framework. A new slitter and an additional leveller are also being installed.
The new CC, which is currently under construction, is located in Gujarat. In addition to its proximity to Suzuki Motor Corporation’s plant, the new CC will provide a stable supply of steel products to Japanese companies in the region.
Marubeni-Itochu Steel and JSW Steel have a policy of jointly developing coil centres in India, with the aim of strengthening the processing system mainly for the automobiles and home appliance sectors.
Apart from the joint venture with JSW Steel, Marubeni-Itochu Steel will establish CC and tailor-weld blanking operations. When the new plant comes onstream next year, the company will have a total of seven steel processing plants in India, including the four it operates as joint ventures.
Note: This insight has been published in accordance with an article exchange agreement between SteelMint and Japan Metal Daily.
Leave a Reply