Mahindra Auto Steel to invest Rs.150 crore

Mahindra Auto Steel, a new JVC of Mahindra Intertrade, Taiwan-based China Steel Global Trading Corporation and Singapore-based Mitsui & Co (Asia Pacific), is investing Rs 150 crore to set up a new facility at Chakan to process steel and make blanks, trapezoids and profiles. When operational, the facility will have an annual processing capacity of 130,000 tonne. It will also offer a package of services like sourcing steel, warehousing, forex risk management, customised deliveries of SKUs and products. Contact: Mahindra & Mahindra Ltd. Tel: 022-2490 1441.