Finnish steel co to set up service centre at Rs165cr

Finnish steel co to set up service centre at Rs165cr


New Delhi: Finnish steel major Outokumpu is planning to set up a service centre for its products with an investment of Rs165 crore in western India.

The new green-field plant with an annual capacity to stock and process around 50,000 tonnes of stainless steel coil, is scheduled to be operationalized in the first half of 2009, according to an offical statement released by the company.

This service centre would have cut-to-length, slitting, polishing and brushing lines for equipment fabrications, process industries, welded pipe and tube manufacturers.

“The service centre is scheduled to be in operation in the first half of 2009 and would significantly complement the services that Outokumpu’s Indian sales office has been providing to Indian customers," said Juha Rantanen, CEO of Outokumpu.

The company was looking for sites close to ports such as JNPT near Mumbai and Taloja as the cold-rolled stainless steel coil supply would come mainly from Outokumpu’s integrated stainless steel mill in Tornio, Finland.

The Finnish steel major already has two sales offices in India.