A joint venture between Tata Steel and Nippon Steel & Sumitomo Metal Corporation (NSSMC) on Monday started production of cold-rolled sheets for catering to automotive sector from the Rs 2,750 crore unit in Jamshedpur.
The unit, which was inaugurated jointly by Cyrus P Mistry, Chairman of Tata Sons, and NSSMC Chairman Shoji Muneoka, has an annual capacity to produce 6 lakh tonnes of high-quality cold rolled sheets exclusively for the automotive industry, including outer panels and high tensile sheets.
Tata Steel said it enjoys 42 per cent share of the Indian market for automotive steels.