Tata Steel Targets 1MTPA Production At Odisha Unit
13 July 2016
Commodity prices are inching up again and companies in the metals space are speeding up their investment cycles, report CNBC-TV18's Navin Shetty and Farah Bookwala.
Tata Steel may be working overtime on consolidating its assets in Europe and the UK, but that does not mean it is not pushing the pedal to the metal back home. With demand expected to rise thanks to an uptick in the economy and the government's efforts to re-energise and protect the Indian steel sector.
In the last five years, Tata Steel has invested Rs 40,000 crore rupees to ramp up domestic steel production from 7 million tonnes per annum to 13 million tonnes per annum. This has helped its Indian operations hold up under pressure, and the company is keen on sustaining this trend.
TV Narendran, Managing Director, Tata Steel says that for next 3 years the company will focus on ramping up Kalinganagar facility and targets a production capacity of 1 MTPA out of this facility.
Source : moneycontrol.com