Brazilian steelmaker Gerdau SA hopes that the Indian steel sector may grow sizeably given the current low per capita consumptions in the domestic market.
In view of the opportunities in the domestic market, the company plans to expand its footprint in India and it is in active talks with a few Indian steel companies for acquiring either majority stake or entire stake. But it is not known which domestic company the Brazilian steelmaker is focusing on for acquisition.
It may be recalled that the firm holds 99 percent stake in its first JV in the country with Kalyani Steels.
In June 2007, the firm entered into a joint venture with Kalyani Steels with 45 percent equal stake with the Indian partner for the steel manufacturing facility at Tadipatry in Andhra Pradesh, now owns 99 percent in the joint venture.
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