Tatas, Nippon Steel plan steel JV

NEW DELHI: Tata Steel is understood to be considering setting up a Rs 15,000-crore steel plant in India in collaboration with the Japanese firm Nippon Steel.

A Tata Steel spokesperson said, “Any further co-operation between the two companies may be part of an ongoing conversation in the future but no decision has been taken in that regard.”

Meanwhile, sources said the two companies are in discussions to set up an integrated steel plant in India with an initial production capacity of 3 million tonnes per annum (MTPA) which could entail an investment of at least Rs 15,000 crore. The two companies have already signed a pact to jointly produce auto grade steel at Jamshedpur, Jharkhand, where Tata Steel runs a 6.8 MTPA steel plant.