Tata Steel-Nippon Steel & Sumitomo JV inaugurates auto steel line at Jamshedpur

September 22, 2014 12:22 pm

 Jamshedpur Continuous Annealing and Processing Company Pvt. Ltd. (JCAPCPL), a 51:49 joint venture company between Nippon Steel & Sumitomo Metal Corporation (NSSMC) and Tata Steel, inaugurated a new Rs 2,750 crore advanced auto steel facility.
The new facility, the country’s first Continuous Annealing & Processing Line (CAPL) for manufacturing ‘Automotive Grade Continuous Annealed Products’, was inaugurated inside Tata Steel’s Jamshedpur Works.
The unit will produce 600,000 tonnes per annum of high-quality cold rolled sheets exclusively for the automotive industry, including outer panels and high tensile sheets. While Tata Steel has developed the infrastructure for the project, NSSMC has provided the equipment and state-of-the-art technology.
JCAPCPL will source steel from Tata Steel. Tata Steel currently enjoys a 42 per cent share of the Indian market for automotive steels. Through the joint venture, both Tata Steel and NSSMC are expected to respond appropriately to the increasing demand of Indian automakers for high-grade, high-quality automotive steel sheets.
Cyrus P Mistry, Chairman, Tata Sons, and Shoji Muneoka, Chairman, Nippon Steel & Sumitomo Metal Corporation (NSSMC), jointly inaugurated the facility in Jamshedpur.
Speaking on the occasion, Mr Mistry said, “This line will produce products that will be a great support to the Indian Automobile Industry. JCAPCPL will establish high-quality levels and production standards that we hope will be path-breaking and record-setting.”