Mahindra & Mahindra Ltd.

Mahindra Intertrade, which is part of the USD 16.2 billion Mahindra Group, has entered into a joint venture with China Steel Global Trading Corporation, Taiwan and Mitsui & Co. (Asia Pacific), Singapore to set up an automotive steel service centre in India at MIDC’s Chakan Industrial Area, Phase II, near Pune.

This facility will be set up at a cost of Rs 150 crore (USD 24 million) over 10 acres of land and will have an annual processing capacity of 130,000 tonnes when it begins operations in the fourth quarter of F-2015. While Mahindra Intertrade will hold a share of 51% in the joint venture, the other two partners will hold 24.5% each

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.