TML enters into a JV with Kuboto Corporation Japan

Kolkata, Jul 20 (UNI) Tata Metaliks Limited (TML), country's largest producer foundry grade pig-iron, today entered into a joint venture with Kuboto Corporation of Japan for making foray into manufacturing of Ductile Iron pipes.

Tata Metaliks Managing Director Harsh Jha said the project cost for the JV had been estimated at Rs 150 crore. The JV company, 'Tata Metaliks Kubota Pipes Limited' would be incorporated in Kolkata as a public limited company.

While TML, India would have a 51 per cent equity stake in the proposed JVC, Kubota Corporation would hold 44 per cent and Ms Metal One Corporation Tokyo five per cent.

Mr Jha said the plant to be located within the Tata Metaliks plant premises at Kharagpur would be operational by the end of the next fiscal with an initial production target of 1,10,000 ton per annum.

To a question, Mr Jha said the company planned to make foray in the production of DI pipes keeping in view its soaring demand with growing urbanisation in the country.

UNI