|
| Exchange Disseminated Time | Kalyani Steels Ltd has informed BSE that the Company has entered into a Joint Venture Agreement with Gerdau S.A., Brazil.
As per the said agreement signed on June 22, 2007 both Companies will have an equity partnership of 45% each in SJK Steel Plant Ltd (SJK Steel), Tadipatri, District Anantapur, Andhra Pradesh. The remaining 10% will be owned by other investors.
SJK Steel which was recently acquired by the Company is an integrated Alloy Steel Plant with an annual capacity of 275,000 TPA.
The Gerdau Group is a Brazilian steel Company that is currently the 15th largest international steel producer. In 2006 it reported production of 15.6 million metric tons and gross revenue of R$ 27.5 billion. It has 32,000 employees and is present in twelve countries : Argentina, Brazil, Canada, Chile, Colombia, the United States, Spain, Mexico, Peru, Dominican Republic, Uruguay and Venezuela.
The Kalyani Gerdau Joint Venture plans to enhance its capacity to 1.6 million TPA of finished steel in the next few years. |
|
|