Tata Steel to invest big in India and Europe operations

TV Narendran, CEO of Tata Steel, has said that the company is planning a capital expenditure of Rs 12,000 crore on its India and Europe operations during the current financial year. The domestic steel major plans to invest Rs 8,500 crore in India and Rs 3,500 crore in the company's operations in Europe.

In India, the focus will be on the Kalinganagar project expansion and mining activity, and in Europe, it will be focused on sustenance, product mix enrichment, and environment-related capex. The company is in the process of expanding the capacity of its plant in Kalinganagar, Odisha to 8 MT from 3 MT.

In addition to this, Tata Steel will be spending about Rs 12,000 crore on inorganic growth in India in the NINL acquisition.

Tata Steel through its wholly-owned subsidiary Tata Steel Long Products Limited (TSLP), completed the acquisition of Odisha-based one Million Tonne Per Annum (MTPA) steel mill NINL for a considerable amount of Rs 12,000 crore.

Also read:
Tata Steel: India’s Most Admired Construction Brand
Welspun Corp and Tata Steel enter a green energy partnership


Related Stories

Bids Invited for 120 km Narmada River Cruise in Madhya Pradesh

The Madhya Pradesh Tourism Department has invited bids for operating a 120 km cruise expedition along the Narmada River, connecting Ekatma Dham (...

Read More

REC to Fund Health Equipment in Raipur, Chhattisgarh

REC Limited, a Maharatna CPSE under the Ministry of Power and a leading NBFC, has signed a Memorandum of Agreement (MoA) with the District Health...

Read More

Reach out to us

Call us at +91 8108603000 or

Schedule a Call Back