China Steel Corp (CSC, 中鋼), the nation’s only integrated steelmaker, yesterday said it has entered a joint venture of US$24 million with Mitsui & Co (Asia-Pacific) Pte Ltd and Mahindra Intertrade Ltd to build an automotive steel service center in India.
China Steel subsidiary China Steel Global Trading Corp (中貿) and Mitsui & Co will each have a 24.5 percent stake in the venture, while India’s Mahindra Intertrade will own the remaining 51 percent, Mahindra Intertrade said.
The facility will have an annual processing capacity of 130,000 tonnes to service car companies in Pune in Maharashtra State, after it begins operations in the fourth quarter of 2015, Mahindra Intertrade said in its press release.
The raw materials for the facility would be imported from China Steel, as well as sourced locally, the Indian company said.
The project targets the growing automobile market in India, where annual car sales are expected to reach 1.5 million units in 2015, China Steel said.
The joint venture is the second project for China Steel in India after the company invested US$66.58 million to build a plant producing 200,000 tonnes of non-oriented electrical steel sheets per year, in the Bharuch district of India’s Gujarat State. It will be operational next year.
China Steel reported revenue of NT$290.11 billion in the first 10 months, down 3.98 percent year-on-year, while its profit jumped 227 percent to NT$12.46 billion, or NT$0.82 per share, in the first three quarters from last year, the company’s data showed.
‧ Annual processing capacity of 130,000 tonnes.
‧ Targeting India’s growing annual automobile market of 1.5 million unit sales by 2015.
‧ Operations to begin in 2015.
Source: Mahindra Intertrade
DEVELOPING TALENT: The electronics contractor is looking to recruit people to work in core tech fields and emerging industries like electric cars and robotics Hon Hai Precision Industry Co (鴻海精密), the world’s largest contract electronics maker, has launched a recruitment drive, offering a monthly salary of no less than NT$45,000 (US$1,485) to university graduates. For those with a master’s degree, the starting pay would be NT$52,000 per month at the minimum, while doctorate degree holders would receive at least NT$60,000 a month, Hon Hai said a statement issued early this week. The latest recruitment drive is aimed at attracting talent in core technology fields — artificial intelligence, semiconductors and next-generation mobile communications — and emerging industries — electric vehicles, digital healthcare and robotics, the
MRT TRAVEL FALLS: In February, ridership on the Taipei MRT System fell 8.96 percent from an average of 2.01 million per day in January Scooter sales jumped 13 percent last month as more commuters turned to two-wheelers to avoid public transportation amid the COVID-19 pandemic, the latest statistics showed. Sales expanded to 74,493 units last month, compared with 65,913 units in February, statistics released on Wednesday by Kwang Yang Motor Co (光陽工業) and the Ministry of Transportation and Communications showed. In the first quarter, aggregate sales slid 0.51 percent year-over-year to 186,627 units, from 187,580 units, data showed. Kwang Yang, the nation’s biggest scooter manufacturer, continued to lead the market by selling 24,136 vehicles last month, growing 6.12 percent from 20,785 units in the previous month, while
Asustek Computer Inc (華碩), the nation’s leading PC vendor, yesterday launched its first dual-screen gaming laptop powered by Intel Corp’s latest central processing units (CPUs). The PC manufacturer’s announcement closely followed the US chipmaker’s unveiling of its 10th Generation Core H-series, the fastest commercial mobile processors with speeds of up to 5 gigahertz. Although Asustek’s Zephyrus Duo 15, the highlight of its Republic of Gamers line, is not the company’s first laptop with two screens, it is its first designed specifically for gaming. Nestled between the primary display panel and the keyboard, the secondary display, which Asustek calls the ScreenPad Plus, is angled
NO ILL EFFECT: Last month’s data mainly reflected deals made in February, when the spread of COVID-19 was still relatively mild in Taiwan, housing brokers said Housing transactions in the six special municipalities totaled 19,824 units last month, up 7.8 percent from a year earlier, brokers said, citing government data. Last month’s data mainly reflected deals made in February, when the pinch of the COVID-19 pandemic was not yet evident, they said. Taoyuan posted the largest improvement, with housing transactions soaring 36.6 percent year-on-year to 3,676 units, local government data showed. Taiwan Realty Co (台灣房屋) attributed the pickup to the completion of two presale residential projects in the municipality. Houses in Taoyuan have increasingly gained in popularity in the past few year years due to relatively affordable home prices and