KOLKATA: Tata Ryerson will invest Rs.1 billion in the Singur project to supply components of Tata's Nano. The company is also setting up a plate burning and fabrication plant in Tada, Andhra Pradesh.
Sandipan Chakroborty, Managing Director of Tata Ryerson Ltd, said that the company has been chosen to supply six critical components of the Nano. He said that a planned investment of Rs.1 billion ($25 million) would be made for the project.
He added that work in Singur Vendor Park is progressing in full swing and the operation team is being trained in Canada and parts are being developed there. The Nano is slated to hit the Indian auto market in October,2008. Mr. Chakroborty said that although the company has the provision to produce 75,000 cars, the challenge would be to meet the demand for half a million cars and to ramp them up to meet customer satisfaction. Tata Ryerson Ltd is a 50:50 joint venture between Tata Steel Limited and Ryerson Inc of USA. With its headquarters in Kolkata, Tata Ryerson has sophisticated processing facilities at Jamshedpur, Faridabad and Pune. The company has two other projects for which it is making a combined investment of Rs.900 million ($22 million). The first project is located at Tada, 70 km from Chennai, where Tata Ryerson, in partnership with Caterpillar of USA, is setting up a state-of-the-art plate burning and fabrication plant with an investment of Rs 45 crores . The second project is located at Pantnagar in Uttarakhand where, with an investment of Rs.450 million ($11 million), it will be producing a small commercial vehicle, Ace, in partnership with Tata Motors. |
