Ruchi Group signed a 50:50 Joint Venture & Shareholders' Agreement with
Mitsui & Company, Japan, for setting up steel service centres across the country
to cater to automotive, white goods and construction sector.
The steel service centres are likely to be situated near largest auto hubs in
India with an annual capacity of 1,00,000 tonne for each, which will also offer
services/facilities like delivery of non-processed steel coils.
The two companies have an existing JV company in India - Indian Steel
Corporation - which is in the process of expanding its cold rolling, galvanising
and colour coating capacities at its Gandhidham plant in Gujarat to 6,00,000 tpa
during this year.