Stainless steel consumption in India will rise by at least 140,000tns over the next one year or so after the railway minister announced plans to build new freight wagons and passenger coaches from the metal.
Titanium Industries has announced that it has signed a 4 year agreement with United Technologies Corp. (UTC) to support UTC’s emerging market initiative in India.
Outokumpu Oy will invest EUR 300 million to set up a cold rolling mill in India and is also looking at sites in Maharashtra and Gujarat for locating its first manufacturing plant in India.
India-based Reliance Industries Ltd (RIL) will invest up to USD 9 billion through 2011 to create a petroleum and petrochemicals complex at Jamnagar in Gujurat, India.
Gujarat-based Jain Group’s Sona Alloys, which pioneered ship breaking, will be setting up a Greenfield integrated steel plant at Lonand in Maharashtra with an investment of INR 350 crore.
Acerinox has concluded a study on a project to build a plant, probably a cold rolling mill, in India, in a joint venture with its Japanese partner Nisshin Steel.