JV with China’S Tsingshan Group Set Up a Steel Plant in Kutch (Download PDF)

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China based Tsingshan group along with its Indian partners will set up an 18, 000 crore, cold and hot steel rolling plant in Kutch. The production of this company is expected to start by March 2019.

Image of cold and hot steel rolling plant

Image of Cold and Hot Steel Rolling Plant

Image of cold and hot steel rolling plant

What will be done in the first phase?

  • Rs. 6, 000 crore will be invested.

  • A plant to produce 7 lakh tonnes steel per annum will be set up.

Where is the Plant Being Set Up?

  • The plant is being set up at Kundrodi, Mundra taluk of Kutch.
Map of Plant is being set up at Kundrodi

Map of Plant is Being Set up at Kundrodi

Map of Plant is being set up at Kundrodi

Companies Setting up the Joint Venture

  • Tsingshan group

  • ISCON group

  • Sunrise group

  • VD group

The joint venture company will be known as Chromeni Steels.

What are the Other Important Features of the Joint Venture?

  • The plant is expected to generate employment for 3, 000 to 4, 000 individuals.

  • An MOU for this facility was signed at the Vibrant Gujarat Global Summit last year.

  • The company has 500 acres of land for this project in Kutch.

  • The Chinese group has 54 % stake and the rest of equity is equally shared by the Indian Partners

What will the Second Phase of this JV Have?

  • Rs. 12, 000 crore would be used to establish a hot steel rolling plant in the next phase

  • Expected to start after 2 years.

  • The capacity of the hot rolling steel plant is expected to be 10 lakh tonnes per annum.

Details on Partners

  • Tsingshan group is the leading producer of steel in the world.

  • Tsingshan group has a steel plant in Indonesia.

  • Tsingshan Holding Group was set up in 1992 and is mainly engaged in foreign investment, manufacturing, sales, warehousing and import & export

  • ISCON group is an Ahmedabad based real estate entity.

  • ISCON group has also diversified into frozen foods and potato flakes products.

  • Sunrise Stainless Pvt. Ltd. is the flagship company of Sunrise group, well diversified in stainless steel industry from the past 40 years.

- Published/Last Modified on: January 31, 2018

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