Gujarat-based Steelcast JV with Michigan Steel targets US railway for growth
19 Jan 2012
Gujarat-based Steelcast Ltd, one of India's leading steel castings manufacturers, is gearing up to tap the huge multi-billion dollar demand from US Railways for castings after getting its manufacturing facilities at Bhavnagar certified by the US Railways.
As part of the last stage of getting the certification from the US Railways, an inspection team will come from the US to inspect the company's castings manufacturing facilities at Bhavnagar in Gujarat.
Once the approval is received in the next couple of months, Steelcast will become only the second such company from India.
Steelcast expects the US Rail certification to give it an advantage over others while bidding for contracts from the Indian Railways in future, especially the huge multi-billion rupee opportunities that will emanate from the upcoming Delhi-Mumbai Freight Corridor.
In June 2010, Steelcast had formed an equal joint venture with US-based Michigan Steel to tap the huge potential for castings in the US, especially for the US Railways for freight transport, which is one of the biggest in the world.
The JV, known as Steelcast LLC, will give Steelcast technical know-how of Michigan Steel for which the Deroit-based steelmaker will seek the requisite approvals in the US.