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SEATTLE (Scrap Monster): India’s Tata Steel on Wednesday formally commenced construction of a 750,000 mt per year capacity scrap-based steel mill in the northern state of Punjab, a government official said on Wednesday, January 25.
The official said that Tata Steel has committed an investment to the tune of $321 million in the first phase of the scrap-based steel mill. He said that this is the first investment by Tata Steel in Punjab and will produce construction grade rebar through the electric arc furnace (EAF) route.
The steel mill is forward integration on the part of Tata Steel which had already set up a ferrous scrap processing unit in Punjab with a capacity of 500,000 mt per year.
Courtesy: www.steelorbis.com
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