Tata Steel’s Rs 15k cr expansion plan to be completed in FY11

Tata Steel’s Rs 15k cr expansion plan to be completed in FY11
PTI
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First Published: Mon, Oct 18 2010. 06 36 PM IST
Updated: Mon, Oct 18 2010. 06 36 PM IST
New Delhi: Tata Steel on Monday said its programme to ramp up the production capacity of its domestic facility at Jamshedpur by around 47% to 10 million tonnes per annum (MTPA) is on track and will be completed by March 2011.
The global steel major plans to enhance production capacity from 6.8 MTPA to 10 MTPA by March 2011, with an investment of Rs15,000 crore.
“We are very much in line with our expansion programme which will be completed by FY11. One part will come up we are in the process,” Tata Steel vice-president (Raw Materials Division) P. Sengupta told PTI on the sidelines of a seminar here.
“We will be adding three million tonnes so total will go to 10 million tonnes. It is a continuous expansion process, a substantial money has already been put in,” he said.
The company, in June this year, has said that its expansion project has received clearance from the ministry of forest and environment.
As part of the expansion programme, the company will ramp up its production capacity of flat steel items -- mainly consumed by automobile and consumer durables industries--to 5.83 million tonne from the current 3.04 million tonne.
The expansion is part of the steel major’s plans to take its annual capacity to 16 million tonne by 2014 at an investment of around Rs40,000 crore. The projects will be funded by a mix of debt and internal accruals.
Earlier, its managing director H.M. Nerurkar said the company was active in a number of social initiatives including handpicking the sports talents which resulted in India bagging a number of medals in archery in the recently concluded Commonwealth Games here.
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First Published: Mon, Oct 18 2010. 06 36 PM IST