Acerinox SA, the world’s second-biggest stainless steelmaker, is studying building a plant in India with Japan’s Nisshin Steel Co to tap rising demand from makers of automobiles and houses.
The company was considering stainless steel demand and energy issues as part of the study into establishing a joint venture in India, Acerinox Chairman and Chief Executive Victoriano Munoz Cava said in an interview yesterday in Kyoto.
Acerinox is looking into India, the world’s fastest-growing major economy after China, because overall steel demand is forecast by the government to double by 2012. Nisshin Steel, which offered technology to Acerinox when the European company was founded in 1970, holds an 11 per cent stake in the Madrid-based company.
Read more in The Business Standard article.
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