New Delhi, September 2, 2014: Continuous Annealing & Processing Line, a 600,000 tonnes per annum facility for manufacturing 'Automotive Grade Continuous Annealed Products', belonging to Jamshedpur Continuous Annealing and Processing Company Pvt Ltd (JCAPCPL) was inaugurated at Steelennium Hall inside Tata Steel's Jamshedpur Works.

Mr Cyrus P Mistry, Chairman, Tata Sons, and Mr Shoji Muneoka, Chairman, Nippon Steel & Sumitomo Metal Corporation (NSSMC), jointly inaugurated the facility in Jamshedpur. Mr Kazumi Endo, Consul-General of Japan, Kolkata, Mr T V Narendran, Managing Director, Tata Steel India & South East Asia, Mr Koushik Chatterjee, Group Executive Director (Finance and Corporate), Tata Steel graced the occasion along with Mr Katsuhiko Ota (Representative Director, Executive Vice President, Corporate Planning, Group Company Planning, Finance, NSSMC), Mr Yashumitsu Saeki (MD, Member of the Board, Head of Flat Products Unit, Leader of India CAPL Project), Mr Taisuke Nomura (MD, Nippon Steel & Sumitomo Metal India Pte Ltd, Chairman JCAPCPL), Mr Naomi Ishi, MD, Toyota Kirloskar Motors, Mr P N Singh, President, Tata Workers' Union, Senior officials of Tata Steel and NSSMC and representatives of Tata Workers Union among other customers and stakeholders.

JCAPCPL, a 51:49 Joint Venture of Tata Steel Ltd and NSSMC, has set up India's first Continuous Annealing & Processing Line that will produce 600,000 tonnes per annum of high-quality cold rolled sheets exclusively for the automotive industry, including outer panels and high tensile sheets. While Tata Steel has developed the infrastructure for the project, NSSMC has provided the equipment and state-of-the-art technology. The project has been set up at a capital investment of about Rs 2,750 crore. JCAPCPL will source steel from Tata Steel. Tata Steel currently enjoys a 42 per cent share of the Indian market for automotive steels. Through the joint venture, both Tata Steel and NSSMC are expected to respond appropriately to the increasing demand of Indian automakers for high-grade, high-quality automotive steel sheets.

In his address to the gathering, Mr Kazumi Endo, Consul-General of Japan, Kolkata commented on the growing Indo-Japanese bilateral co-operation in the areas of trade and commerce. He said, "It is in the fitness of things that the JCAPCPL facility is being formally inaugurated on the day when the Indian Prime Minster is meeting his Japanese counter-part in Japan".

Speaking on the occasion, Mr Cyrus P Mistry, Chairman, Tata Sons said, "This line will produce products that will be a great support to the Indian Automobile Industry. JCAPCPL will establish high quality levels and production standards that we hope will be path-breaking and record-setting. I would like to congratulate the entire project team right from its inception and execution of this project".

In his address to the gathering, Mr Shoji Muneoka, Chairman, NSSMC said, "JCAPCPL has been established to supply high grade cold rolled steel for the automobile industry. I have no doubt that JACAPCPL will take advantage of strengths of both Tata Steel and Nippon steel and supply steel that will definitely satisfy our customers. Through JCAPCPL, we will contribute to the Indian Automobile Industry and eventually to the whole Indian economy".

Speaking on the occasion, Mr T V Narendran, MD, Tata Steel, India & SEA said, "The relationship between Tata Steel and Nippon Steel goes back 40 years; it's been a technical relation and partnership in many ways which is now translated into a company where the best of both the companies can be reflected. And I hope that this relation can be taken to higher levels as both the companies have knowledge and experience in the global market, so this will be a win-win partnership". He further added, "It is also opportune that we are having this function today when the Prime Ministers of both the Nations are discussing on how these two countries can work closely going in to future."