Tata Ryerson announces Rs120-crore investment for Tata''s Singur car
28 Apr 2007
Kolkata:
Tata Ryerson, has announced its decision to invest Rs120 crore in Tata Motors''
small car project, to be located at Singur. The company is a 50:50 joint venture
between Tata Steel and US-based Ryerson Inc.
Sandipan Chakravortty, managing director, Tata Ryerson, said in Kolkata yesterday that apart from providing sheet metal products, the company was importing the latest technology for the first time in the country for the Tata Motors small car project, help reduce manufacturing cost.
These included for roll formed section to replace press works to bring down 25-30 per cent of the cost involved in the normal press works. Chakravortty also said that the company was negotiating with two Japanese and European companies for blanking technology used for making car windows.
Tata Ryerson, which has been allotted 10 acres for the project next to the car factory, would have its facilities ready in March 2008, the deadline for the Tata Motors to roll out its small car Chakravortty said.
Chakravortty also disclosed that Tata Ryerson was also setting up two more greenfield plants at Pantnagar in Uttarakhand and Chennai at an investment of rs100 crore. The plants would make heavy equipment for Tata Motors'' Ace and Caterpillar vehicles.
Once the new plants are operational in the next two years,the company''s production capacity would double to two million tonnes making it Asia''s largest sheet metal products company
Chakravortty
said the company''s turnover would also double to Rs2,000 crore from Rs1,012 crore
in 2006-07.
