It’s reported that Tata Metaliks is modulating the shareholding in its ductile iron (DI) pipe project.
The project was a joint venture which was founded to build a 110,000 tpy DI pipe plant at Kharagpur, sourcing pig iron from Tata Metaliks’ 350,000 tpy plant in Kharagpur .
In this project, Tata Metaliks Kubota Pipes Ltd (TMKPL), Tata Metakliks held a 51% shareholding in the joint venture, Kubota 44% and Metal One Corp 5% in late March.
It is said that it was essential that Tata Metaliks hold complete ownership of the venture from steelmaking to pipe rolling to pipe sales in order for the pipe business to be competitive.
Also, Tata Metaliks indicated that Kubota would continue to help TMKPL to export DI pipes and also provide technical support to the venture.
