Tata Steel Identified Opportunities to Actualise Capacity Expansion Plans

SEATTLE (Scrap Monster): Tata Steel- the leading Indian steelmaker announced that it has identified sufficient growth opportunities within its existing steelmaking facilities to help achieve its ambitious capacity expansion plan. Incidentally, the company aims to double its steelmaking capacity to touch levels of 40 million tonnes (MT) by end-2030.

T V Narendran, CEO and Managing Director, Tata Steel noted that the company plans to make capital investment of approximately INR 12,000 crore in Its India operations. The company’s current capacity is around 21 MT. The ongoing Kalinganagar expansion project will lift it soon to 25 MT. It aims to achieve 40 MT capacity by end of the current decade, driven by capacity expansion plans at Neelachal, Kalinganagar and Meramandali or Angul, he added.

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The company sees enough “organic” expansion opportunities within its facilities. There are no “inorganic” growth plans in near future.

Commenting on the outlook of UK operations, Narendran stated that the company has sought a financial package of 1.5 billion pounds from the UK government to execute decarbonisation plans at its Port Talbot facility. It will continue to hold talks with the UK government over a financial package in support of the operations there. The future course of the projects would depend on the outcome of these talks, he said.