Tata Steel majority holder in Nippon JV

[miningmx.com] — INDIA’s Tata Steel said it will hold 51% in its joint venture with Japan’s Nippon Steel, the company said in a filing to exchanges on Friday.

The $506.6m joint venture is expected to come on stream in 2013, aiming to produce 600,000 tonnes a year of cold rolled automotive sheet steel in India.