Essar Steel in pact with Kobe Steel

MUMBAI: Essar Steel on Wednesday said it has signed agreements to collaborate with Japan's Kobe Steel for manufacturing high-value steel products for use in the automotive sector. Under the terms of the agreement, Essar Steel and Kobe Steel will explore the possibility to set up a joint venture to design and make high-grade products .

Kobe and Essar already have a pact to share advanced technology and resources in steelmaking. “This agreement will strengthen Essar Steel's portfolio for high-end applications,” said CEO Malay Mukherjee.