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Tata Steel to invest $1.18 billion in iron ore expansion.
Capacity to rise 40% in Odisha and Jharkhand mines.
Move ensures raw material security and cost efficiency.
Tata Steel, one of India’s largest steelmakers, has announced plans to invest $1.18 billion (approx. ₹9,840 crore) over the next three years to enhance iron ore production capacity at its captive mines in Odisha and Jharkhand.
The company aims to scale up iron ore output to support its expanding steel manufacturing operations and reduce dependence on external raw material supplies. Tata Steel currently operates several iron ore mines in eastern India and is targeting an increase in capacity by 40% through mine expansions and new beneficiation plants.
Company officials stated that the investment is part of Tata Steel’s strategy to secure raw material self-sufficiency, improve operational efficiencies, and lower input costs amid volatile global commodity markets.
The move is also expected to create new employment opportunities and improve infrastructure in mining belts. The increased output will primarily cater to the steelmaker’s facilities in Kalinganagar, Jamshedpur, and Meramandali, aligning with its long-term production growth plans.
Industry analysts believe the decision comes at a crucial time when India’s steel demand is projected to grow steadily on the back of infrastructure and construction sector expansion.
Also Read : Tata Steel Soars: Market Cap Jumps Rs 7,000 Crore as China Slashes Output Steel Prices in India Drop Amid Early Monsoon and Chinese Market Pressure
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