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Gerdau increases stake in Indian steel plant

Keywords: Tags  Gerdau SA, Brazil steelmaker, Tadipatri, special steels, Jagdish Kumar

MUMBAI, India — Brazil-based steel producer Gerdau SA has increased its share in the Tadipatri steel plant in India.

Gerdau now holds a 99.5-percent stake in the joint venture, up from 45 percent previously.

The value of the deal was not disclosed, but Gerdau paid $71 million in 2007 for its 45-percent stake.

The plant has an installed capacity of 300,000 tonnes of special steels catering to the automotive sector.

A version of this article was first published by AMM sister publication Steel First.

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