India's Tata Steel plans to double its steelmaking capacity, focusing on domestic expansion

Breaking News

JSW Steel rises 2% on gas supply worries HSBC raises Tata Steel target to ₹250 British Steel to supply 120,000 mt billet to Nigeria ₹3,200 crore Tata Steel EAF starts in Ludhiana

India's Tata Steel plans to double its steelmaking capacity, focusing on domestic expansion

Large Corporate 16 Jul 2024 06:21 PM IST Steel Orbis

Tata Steel Limited of India will double its overall steelmaking capacity to 40 million metric tonnes per year, modifying its global strategy so that domestic manufacturing will account for 75% of total production, up from 62% currently, according to company chairman N. Chandrasekaran.

Mr. Chandrasekeran stated that the majority of the increased production would come from expanding its Indian mills in Jamshedpur, Kalinganagar, Gamaharia, and Meramandali. He did not, however, reveal when the expansion projects will be finished.

Subject to government assistance, he stated that the company intends to make significant investments in low-CO2 steelmaking technologies, including significant initiatives in the UK and the Netherlands.

The modernisation of the Port Talbot mill in the UK may result in 2,500 job losses due to the shift to a low-emission electric arc furnace process, he said.

Also Read : JSW Steel unveils indigenous coated steel to reduce India's reliance on imports Adani's copper unit in Mundra starts operation

Breaking News

India's Tata Steel plans to double its steelmaking capacity, focusing on domestic expansion

Related News

Russia's Nornickel gets closer to top buyer with plan for copper plant in China

India’s NMDC Limited sees iron ore output up 8% in Jan

India's resilience and growth path highlighted by Minister Hardeep Singh Puri

Tata Steel Eyes Nuclear Future with Plan for 200 Small Modular Reactors

NTPC permanently shuts down 220 MW Barauni Stage-I project

Zinc futures fell on muted demand