Tata Steel to Double Its Capacity
Tata Steel is betting on expanding steel demand to double its capacity to 40 million tonnes. Having reduced debt by Rs 18,000 crore, Asia’s oldest steelmaker plans to resume its expansion plans at its existing facilities in Odisha and Jharkhand.
“Expansion within the three sites in Angul, Kalinganagar and Jamshedpur will allow the company to grow from the current capacity of 20 million tonnes per annum to 40 million tonnes per annum,” Managing Director T.V. Narendran stated.