TML join hands with Kubota for manufacturing ductile iron pipes

Kolkata, Mar 29 (UNI) Tata Metaliks Limited, wholly owned subsidiary of Tata Steel, today joined hands with one of world's largest pipe making concern Kubota Corporation of Japan for manufacturing ductile iron pipes at its Kharagpur plant.

Announcing the joint venture, after an extended board meeting here this evening, Tata Metaliks Managing Director T Mukherjee said the new plant, to be set up within the Tataa Metaliks Kharagpur complex, would produce 1,10,000 TPA DI pipes of international quality.

The proposed world class pipe manufacturing facility will use liquid pig iron from Tata Metaliks existing blast furnaces and was expected to be operational by 2009.

He said for this purpose a joint venture company would soon be set up with 75 per cent each of equity and debt of a total investment of Rs 150 crore. He said while Tata Metaliks would have 51 per cent stake in the new company, whose name is yet to be finalised, Kubota would have 41 per cent share and the Japanese trading company Metal One would have the remaining 5 per cent stake.

To a query, he said the major exports of the 1,10,000- TPA products would be made to the middle eastern countries.

UNI