Mahindra Auto Steel to invest Rs. 150 crore in new facility.

Mahindra Auto Steel Pvt Ltd., a new joint venture company, is seeking to redefine the steel supply chain in the Indian auto industry. It is investing Rs. 150 crore to set up a new facility at Chakan to process steel and make blanks, trapezoids and profiles.

The company is a joint venture between Mahindra Intertrade, Taiwan-based China Steel Global Trading Corporation and Singapore-based Mitsui & Co (Asia Pacific) Pte. Mahindra holds 51 per cent share in the venture, while the two foreign partners hold 24.5 per cent each.

HBL