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Corus to invest in France rail facility
15 December 2009: Corus, a subsidiary of Tata Steel, is planning to invest Pounds 35 million (Rs 265.75 crore) at its rail production facility in France.
The move has come after the company secured contract worth 350 million pounds from the French railway operator SNCF.
The contract is for an intial four years with the option to extend it further by two years. Corus will invest the money in new technology at its rail production in Hayange (north-east France) to allow it to produce longer rails.
Corus has its main steelmaking operations in the UK and the Netherlands. It supplies steel to the construction, automotive, packaging, mechanical engineering and other markets worldwide.
Source: Business Standard