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Mahindra forms alliance to set up steel service plant in Pune

By Religare
Mahindra forms alliance to set up steel service plant in Pun
Mahindra Intertrade, a part of Mahindra Group has entered into a joint venture with China Steel Global Trading Corporation and Taiwan and Mitsui & Co (Asia Pacific) Pte. Ltd, Singapore to set up an automotive steel service centre at Chakan, near Pune, said the media report.

The shareholding pattern for the joint venture will have Mahindra Intertrade holding 51 percent with the other two partners holding 24.5 percent each, added the media report.

The facility to be set up at a cost of Rs 150 crore is spread over 10 acres and will have an annual processing capacity of 130,000 tonne when it begins operations in the fourth quarter of FY15, the company said.

"This state-of-the-art facility will be one of the few merchant producers of steel blanks and profiles offering the full range of services from sourcing to customised JIT delivery solutions," Mahindra Intertrade, Managing Director, Harsh Kumar told media.

Dion Global Solutions Ltd.

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