Kolkata, Oct 16 (UNI) Tata Steel Group subsidiary Corus UK Ltd and Companhia Vale do Rio Doce (Vale) have signed a contract under which Vale will supply Corus' plants in Europe with 63 million ton of iron ore.
The five-year contract will come into effect from next year, according to a Tata Steel statement here today.
The statement quoted Corus CEO Philippe Varin as saying the contract would complement the raw materials strategy for Tata Steel Group's European operations of combining external sources with future captive supplies.
Corus is Europe's second largest steel producer with annual revenues of more than 12 billion Pound and annual crude steel production of about 20 million ton.
With main steelmaking operation primarily in the UK and the Netherlands, Corus provides solutions to the construction, automotive, packaging, mechanical engineering and other markets worldwide.
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