Pune-based Kalyani Steel (KSL), makers of carbon and alloy steel, has entered into a joint venture agreement with Gerdau SA of Brazil. Both the companies will hold 45% each in the venture with the balance 10% being held by investors.The joint venture will hike the capacaity of SJK Steel, which was acquired recently by Kalyani Steel, from the current 2,75,000 tonne to 1.6 million tonne in the next few years.
The Gerdau Group is currently the 15th largest international steel producer with revenue of Brazillian$ 27.5 billion and presence in 12 countries.
(Source: Business Standard)
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