Usha Martin Ltd’s subsidiary in Thailand Usha Siam Steel Industries Public Co Ltd has formed a 50:50 joint venture with Kobe Steel Group Company, TESAC Wire Ropes. TESAC Usha Wire Rope Cowill set up a 12,000 tonnes-a-year steel wire rope facility in Thailand. It aims to meet the growing demand of the Japanese elevator makers in the ASEAN region. The proposed plant will be set up adjacent to Usha Siam’s existing unit in Pathum Thani’s Navanakorn Industrial Estate in Thailand. The 500 million baht ($17 million) facility is expected to be operational in 2014.
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