Tata Steel Not to Expand Flagship Jamshedpur Steel Plant

SEATTLE (Scrap Monster): Announcing plans for the new calendar year, Tata Steel noted that it plans to continue investments at its flagship Jamshedpur steelmaking facility, but is unlikely to further expand the plant.

According to TV Narendran, CEO and Managing Director, Tata Steel, although the Jamshedpur plant is significantly important for the company, the location of the plant in the heart of the city allows for no more expansion in future. However, the company will continue with its investments in subsidiary companies including Tinplate, ISWP and Tata Steel Long Products. He was interacting with media during the New Year celebrations of the company held at its Centre for Excellence (CFE).

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Looking back to the previous year, Narendran said that the year 2022 has been a roller coaster ride. Although the year started on a positive note, the Omicron threats posed challenges for the company, but with a little impact. The Tata Steel employees played a major role in ensuring that the company continued to remain profitable and sustainable in the midst of challenges.

Additionally, Narendran hoped that India could do what China did in terms of economy, which in turn will help the country to become a global leader in the next two to three decades time.