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With new plant, China Steel ready to tackle South Asia market

With new plant, China Steel ready to tackle South Asia market

Taipei, Jan. 14 (CNA) China Steel Corp., the largest steel supplier in Taiwan, said Wednesday that it has set its sights on providing better service to its clients in the South Asian market after completing construction of a plant in India. China Steel said the addition of a new factory and sales office in India was part of its plan to extend its production and marketing network to South Asia and intensify its efforts to penetrate the market there. The company spoke of its vision for the market after announcing on Monday the completion of construction of its US$237 million cold-rolled steel mill in a Gujarat Industrial Development Corporation industrial park in Dahej in western India. Described as the first stage of China Steel's investment in India, the project was launched in July 2012 and construction started in August 2013. The new plant, featuring an annealing and coating line, launched commercial production Monday and will roll out 200,000 tons a year of electrical steel, a type of cold-rolled steel. The new plant had been engaged in trial production since the end of September 2013. Electrical steel is used for the production of a wide range of products, such as electric motors and compressors. China Steel Chairman Tsou Jo-chi said the new Indian plant is expected to shorten lead times and provide more timely service in the South Asian market, and he hoped it would allow China Steel to grow together with its customers. Tsou met with Indian Prime Minister Narendra Modi at the Vibrant Gujurat Summit held earlier this week to thank India for its support of the investment to date and appeal for continued support in the future, including providing a fair competitive environment with Japanese and Korean steel makers. Details of China Steel's second stage investment project have yet to be finalized and the scale and timeframe of the investment will depend on market conditions, the company said. In addition to the new production site in India, China Steel also has production facilities in Vietnam and Malaysia and sales offices in Thailand and Singapore. (By Wei Shu and Frances Huang)


Updated : 2021-09-17 15:42 GMT+08:00