China Steel to build plant in Gujarat

Taiwan’s largest integrated steel maker, China Steel Corporation (CSC), and its partners will invest US$178 million on a new plant in Gujarat, India. This will be the second largest Taiwanese investment in India. The plant will produce electrical steels in the Bharuch district of Gujarat. The Gujarat plant will annually produce 200,000 tons of non-grain oriented electrical steels. China Steel will invest $66.58 million and the rest will come from co-investors. To grab the opportunity of high growth of demand in India for electrical steels, as well as to enter the markets in West Asia, Europe and North Africa via India, the company would co-invest with international strategic partners to building an ‘annealing-and-coating’ line to produce electrical steel coils at Bharuch. With an annual capacity (crude steel) of nearly 10 million tons, China Steel produces a range of products, including hot and cold rolled coils, coated coils, rods and bars. (August 26, 2011)