Japan based Nippon Yakin Kogyo, a producer of high-performance alloys and high-quality stainless steel, has announced that its board of directors has approved the establishment of a wholly-owned subsidiary in Mumbai, India, with a capital of INR 20 million.

The company pointed out that it expects the demand for high-performance products such as high nickel alloys, stainless steel and special steel steels in India to increase and that it plans to meet the demand, mainly in the energy and environment sectors in India and in the surrounding regions that show rapid growth such as the middle ease, further strengthening its global sales structure.