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Tata Steel bets on expanding steel demand to double its capacity

• Friday, February 19, 2021
• Source:ferro-alloys.com

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• Keywords:Tata Steel, steel demand, capacity

[Ferro-Alloys.com] 

Tata Steel has restarted work on a pellet plant and cold-roll mill complex expansion at Tata Steel Kalinganagar. It was halted due to the lockdowns. The expansion of the Kalinganagar plant to 8 mtpa from 3 mtpa will incur a cost of around Rs 25,000 crore, the company said.

 

Tata Steel is betting on expanding steel demand to double its capacity to 40 million tonnes. Having reduced debt by Rs 18,000 crore, Asia’s oldest steelmaker plans to resume its expansion plans at its existing facilities in Odisha and Jharkhand.

 

“Expansion within the three sites in Angul, Kalinganagar and Jamshedpur will allow the company to grow from the current capacity of 20 million tonnes per annum to 40 million tonnes per annum,” Managing Director T.V. Narendran told ET.

 

Kalinganagar can grow to about 15 – 16 million, Angul to 10 million and Jamshedpur to 14 million, Narendran added.

 

Source: economictimes.indiatimes.com

 

 

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