Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / Tata Steel to invest $1.1 bn in Netherlands plant
BackBack

Tata Steel to invest $1.1 bn in Netherlands plant

Tata Steel to invest $1.1 bn in Netherlands plant

Premium

Mumbai: India’s Tata Steel, the world’s No. 7 steelmaker, said it plans to invest about €800 million ($1.1 billion) over a five-year period in its Netherlands plant to improve production and quality.

The IJmuiden steelplant’s annual capacity will rise to 7.7 million tons of liquid steel by 2015-16 from 7.2 million as a result of the fresh investment, the company said in a statement late on Wednesday.

Tata Steel said full-time jobs at the plant will be reduced by about 1,000 in four years as part of its drive to reduce costs.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 15 Sep 2011, 10:08 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie