JFE Steel Corporation announced the establishment of a new office in New Delhi. Scheduled to open in April 2008, the primary purpose of the office will be to strengthen the company’s sales and marketing of high value-added products given the rapidly growing Indian economy.
The Indian market is expected to sustain its current growth trend, driven by expanding manufacturing production, particularly in the automotive sector, as well as by infrastructure enhancements and rising energy demand, all of which will increase the country’s requirements for high value-added steel. JFE Steel has a long history of supplying high-end materials to local steelmakers; it also exports high value-added steel products from Japan to meet the requirements of the local operations of Japanese automotive and other manufacturing companies.
Up to this point, the Singapore Office has been responsible for the Indian market, but with the expansion of steel demand and the need to react more dynamically and precisely to changes in market needs, the company has decided to open a local office in India. It is hoped that the new office will enable it to gather more information on economic and social developments in India and improve awareness of the company and its products in the country.
In addition to supplying high-end materials to Indian steelmakers, JFE Steel also looks forward to expanding its business in India and strengthening its relationships with Indian companies by entering into technology and capital alliances with steel processing firms.