Indian company partners with Italy’s CSM to produce electrical steel
India, New Delhi: India’s state-owned consultancy and engineering firm Mecon Ltd. has signed a partnership agreement with Italy’s Centro Sviluppo Materiali (CSM) to develop electrical steel for domestic steel producers.
Under the agreement, CSM will also transfer technology to Mecon on steel production, reports Kitco.
Although India is a major steel producer, it still depends heavily on imports of the expensive high-grade alloys used for electrical equipment, importing 400,000 tonnes a year of cold-rolled, grain-oriented steel, which is used in power transformers.
Under the recently announced National Steel Policy, India wants to nearly triple its production capacity by the next decade and acquire technology to produce higher value products, according to Kitco.