With over 15 million tonnes of additional capacity in India being executed as part of its growth plans and the Company already sourcing raw materials globally, Tata Steel has set in motion plans to manage its explosive growth in volume of both raw materials and finished steel. On December 5, the Company signed a joint venture agreement with Nippon Yusen Kabushini Kaisha (NYK Line) one of the world’s leading transportation companies, to set up a shipping company to cater to dry, bulk and break bulk cargo. Both Tata Steel and NYK will each hold 50% stake in the joint venture company. The agreement was signed on behalf of the two companies by Mr Hiromiten Kuramoto, Representative Director and Senior Managing Corporate Officer, NYK Line and Mr B Muthuraman, Managing Director, Tata Steel.

Inking a new pact with a 100 year legacy

Heralding a new era in the relationship between the two companies by further cementing the century long bond, Mr Kuramoto said, “Already, Tata and NYK have about a 100 year relationship, after NYK entered into Japan – Mumbai trade. Today, I am so glad to sign this agreement to open the next century of our relationship with Tata.”

Steel companies are increasingly exploring opportunities to tie up with shipping companies to lower transportation costs. Tata Steel has earlier signed a joint venture with M/s Larsen and Toubro to create India’s largest dry bulk port at Dhamra.

Sustaining an ethical environment

The process of knowledge sharing is used by the Tata Steel group of companies and Tata Group Companies in Jamshedpur, to promote and sustain an ethical business environment. These organisations have created a Central Forum for Ethics and its meetings are jointly organised by Tata Steel, Tata (Tayo) Rolls and Tata Motors. The forum fulfills the purpose of ensuring uniformity in implementation of the employees’ code of conduct and in the deployment of all Group and Tata Steel Policies.

Eminent speakers at the Meet, held on December 19, included Mr Subramaniam, ex-DIG, Vigilance, Prof-Virendra Kapoor of SITM, Pune and Prof Sanjay Mukherjee of IIM. The keynote address was delivered by the Managing Director, Mr B Muthuraman. Among the important subjects discussed were Ethics in mergers, acquisitions and new ventures, Whistle Blowers confidence in the system, Indian industry and the need for Affirmative Action as well as Ethical issues in reaching out to partners.