The planned increase in steel production will be almost double the current capacity of about 21 million tonnes in the country.
According to T.V. Narendran, CEO of the Indian steel company, there are several ongoing projects in various parts of India. The company considers the completion of the expansion of the production capacity of the plant in Kalinangar (Odisha) as a priority. It is planned to complete the second phase in the 2025/2026 financial year and reach a volume of 5 million tonnes per year. In addition, within nine months of acquiring the Neelachal Ispat Nigam Ltd (NINL) steel plant, Tata Steel increased its production capacity to 1 million tonnes per annum. The group completed the acquisition of this business through its subsidiary in July 2022.
The company CEO stated that the plan to increase production volumes is based on organic expansion.
"We have enough opportunities in our businesses. We don't need to buy anything to realise our growth ambition," he said.
Tata Steel CEO also commented on the steel company's activities in the UK. He reiterated that the support offer from the British government was lower than the company's expectations and that there are no further developments at the moment. However, the company will continue negotiations.
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