New Delhi: Tata Steel on Wednesday said it is investing 12 million euros in new manufacturing facilities in IJmuiden, the Netherlands, in a bid to enhance production of specialised corrosion resistant steel.
"The company is building a new finishing line for hot-dipped galvanised steel, which is used in car body panels. The new facilities will...Open in 2014," the company said.
The total investment in the facilities will be to the tune of 12 million euros, it said.
"With this expansion, we will improve our market position as a supplier of high-quality products for sectors like the automotive industry," said site manager of the facilities Dook van den Boer.
The investment is part of 'The Best Steel for Tomorrow' programme, which will help the company becoming one of the world's leading steel producers by investing, growing and cutting costs, he said.
The new installation will cut galvanised steel to width and, through its state-of-the art inspection technology, will further improve the quality of galvanised steel from Tata Steel in IJmuiden, the company said.
It said that the extra finishing capacity will also enable the company to increase its volume of cold-rolled products.
PTI
