It's catch
up time for the construction sector of the Company’s business. Tata Steel’s
determined focus on reengineering its product mix has now been extended to the
construction sector as well. On November 16, 2005 Tata Steel entered into a joint venture
with BlueScope Steel to form Tata BlueScope Steel (TBC).
This 50:50 partnership will cover the manufacture and supply of flat steel products, such
as Zincalume and Colorband, coated steels as well as a range of BUTLER and LYSAGHT metal
building solutions. Approval was also granted for the construction of a major, new,
state-of-the-art coating and painting facility at Jamshedpur, adjacent to Tata
Steel’s Steel Works. |
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Extremely
exciting for Tata Steel is its active participation through Tata BlueScope in the
development of three rollforming and PEB manufacturing facilities under construction by
BlueScope at Pune, Chennai and New Delhi. BlueScope had in December 2004, launched Project
Odyssey to establish these facilities at a capital cost of A $100 million.The Pune
facility is expected to be commissioned by mid 2006.
The joint venture will also assume responsibility for BlueScope Steel’s LYSAGHT
rollforming business in Sri Lanka. Tata Steel will compensate BlueScope for acquiring the
50% stake. Tata BlueScope will operate in greater SAARC countries. |
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“Tata Steel and BlueScope Steel show a similar approach to value creation in the
steel business. Consumers would benefit from the range of solutions that will now be
available to the building industry."
-Mr B Muthuraman, Managing Director, Tata Steel |
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