Thyssenkrupp: JV with Tata Steel by 2018-end

“The JV is an ongoing process. The talks with UK labour union are on and we expect closure by end of current calendar year,” Jens Overrath, Chairman of the executive board, Thyssenkrupp Electrical Steel told reporters here. The company plans to produce 35,000 million tonnes (mt) per annum of cold rolled grain oriented (CRGO) electrical steel used in transformers for power sector from the expanded factory, against the current capacity of 10,000 mt.

“India is a very important market for us and we are the only manufacturers of CRGO steel in the country. The expansion will enable us to enhance the innovative approach that we take towards all our products, thereby providing cutting edge technology to all our offerings,” he said. 

The country’s demand for this specialised steel is estimated at 400,000 mt, which is being met by imports at present. Overrath said the new product line set-up will help in meeting the continuously rising demand of cold rolled grain oriented in the Indian market.