Monday, June 27th, 2022

Tata Steel Bets On Expanding Steel Demand To Double Its Capacity

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.

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