Mahindra Auto Steel, a joint venture between Mahindra Intertrade, China Steel Global Trading Corporation, Taiwan and Mitsui and Co. (Asia Pacific) Pte, Singapore, held the ground-breaking ceremony at its steel service centre at MIDC's Chakan Industrial Area, Phase II, near Pune. To be set up at a cost of Rs 150 crore over ten acres of land, the facility will have an annual processing capacity of 130,000 tonnes. This is Mahindra's seventh steel processing facility and the third in the Pune region and is expected to be functional by the fourth quarter of FY15.