China Steel Corporation (CSC), an integrated steel maker in Taiwan, along with its co-investors, is planning to set up manufacturing plant in India.
The proposed annealing-and-coating production line will come up in Bharuch district of Gujarat. CSC plans to invest $178 million (approx Rs 801 crore) in the proposed plant. While CSC will invest $66.58 million (approx Rs 299 crore) and the rest will come from co-investors. However, the company did not disclose the identity of the foreign investors. It will have a capacity to produce 2,00,000 tonne of non-grain oriented electrical steels per annum. Construction work on the plant will commence in Septemebr 2011 while the plant is scheduled to start test run in October 2013.