India–US Trade Tensions Rise Over Steel and Auto Tariffs NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Japanese steel giant Aichi Steel has agreed to expand its collaboration with Vardhman Special Steels in Punjab, paving the way for a proposed investment of around ₹500 crore in the state. The decision was formalised through a memorandum of understanding (MoU) signed in the presence of Punjab Chief Minister Bhagwant Mann during his ongoing visit to Japan and South Korea.
Aichi Steel, widely known as the steel arm of Toyota, already holds about 24.9% stake in Vardhman Special Steels and acts as a key technology partner. The expanded partnership will focus on assessing the feasibility of new factory operations in Punjab, with an emphasis on advanced special steel products for automotive and engineering applications.
Chief Minister Mann described the MoU as a “red-letter day” for Punjab, noting that the proposed investment will support industrial growth, create new employment opportunities and deepen Indo–Japan industrial ties in the region. He assured full government support to facilitate the project and provide a stable, investor-friendly environment.
Mann also invited Aichi Steel’s leadership to participate in the Progressive Punjab Investors’ Summit 2026 in Mohali, positioning the agreement as a catalyst for further Japanese investments and long-term collaboration in the state’s manufacturing ecosystem.
Also Read : Centre Proposes ₹400 Crore Revival for SAIL’s Salem Steel Plant UP govt approved ₹16k cr rapid rail route to connect Delhi & Noida airports
According to data from CRISIL Intelligence and Analytics, nine major Indian automakers, which accoun...
Automobiles 26-Jun-2024
The dry port at Jalna is one of several significant projects across India that Prime Minister Narend...
Logistics 12-Mar-2024
A recent analysis by ICRA, a prominent credit rating agency, suggests that introducing new mining ca...
Raw Material 27-Aug-2024
✅ US consumer confidence drops to a 12-year low, raising economic concerns.✅ Steel imports fluctua...
Business 02-Apr-2025
According to a senior ministry official, the Ministry of Coal intends to sell coal at a notified pri...
Notification 22-Feb-2024
Beijing China's steel production fell by 1.5% year-on-year in the first two months of 2025, as...
China 17-Mar-2025