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Indian firm Tata Steel to make capital increase

It is stated that Indian steelmaker Tata Steel will spend $1.95 billion in capital increase for both its local and global units in the current fiscal year.

Indian firm Tata Steel to make capital increase

Tata Steel officials stated that approximately $1.2 billion will be allocated from the total capital increase to the plants in India; They also announced that negotiations regarding Tata Steel's operations in the UK are actively continuing with the government.

It is learned that UK Tata Steel management will consider possible options to improve the work and will consult with its shareholders before reaching a decision. It was stated that the decisions to be taken will be made in a way that does not contradict the market expectations, conditions and customer demands.

With the rise in carbon costs, Tata Steel in the UK had to turn to green technology at the Port Talbot plant in order to continue its operations in the future. It was also stated that some of the company's products will not be available for future years.

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