Tata Steel is betting on expanding steel demand to double its capacity to 40 million tonnes. Having reduced debt by `18,000 crore, Asia’s oldest steelmaker plans to resume its expansion plans at its existing facilities in Odisha and Jharkhand.
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 `25,000 crore, the company said.