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Japan opens joint venture

16 September 2014

Japanese corporation «Osaka Steel» signed a declaration with the Indonesian steel company «Krakatau steel» on the creation of a new joint venture «Krakatau Osaka Steel», in which the share of Japanese companies accounted for 80% of the shares, while the remaining 20% ​​belong to «Krakatau steel». Investment in the new project is about 200 million. USD. Presidents of companies that have signed the necessary documents, considered very timely birth of the joint offspring, given the progressive demand for steel from the construction industry, generating new projects. «Krakatau Osaka Steel» will be located in the industrial area of ​​the coastal town Tsilegon, in Banten province.

According to preliminary calculations, the beginning of the production process will be in 2016, with the annual capacity of production is expected to reach 500 thousand. Tonnes of steel. The initial phase of the «Krakatau Osaka Steel» require the creation of about 170 jobs. For «Osaka Steel» joint venture is the original impetus for the expansion of business in a foreign direction — however, at the moment, such a strategy is inherent in all the country's steel sector. The head of the Japanese company, Irvan Hakim, very optimistic, expecting further growth in the Indonesian market, and claiming that the development of the joint venture bet many industries who are interested in deliveries of steel products.

One of the Japanese leaders in the steel industry, the corporation «Nippon Steel & Sumitomo Metal Corporation», together with the leading Indian company «Tata Steel» in the state of Jharkhand, city of Jamshedpur, India, opened the company «Jamshedpur Continuous Annealing & Processing Company Private Limited», focused on the manufacture of automotive steel sheet. in the May 2014 issue of the test product of the year took full annual production capacity of the plant includes the production of 600 thousand tons of metal products. By the means of production are the annealing and processing line. In the catalog of the plant products — high-strength sheet steel and other types of cold-rolled sheet, designed for the automotive industry.

The agreements of the joint venture were signed in early 2011, the president of the new company became the representative of «Tata Steel», place the vice president has got to the representative of «Nippon Steel & Sumitomo Metal Corporation».

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