The Hindu : Business : Tata Steel to spend Rs. 80,000 cr. on three units

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Thursday, Apr 24, 2008
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Tata Steel to spend Rs. 80,000 cr. on three units

Special Correspondent

Total capacity to go up to 35 million tonnes; greenfield projects to be speeded up

KOLkaTA: Tata Steel, whose capacity will touch seven million tonnes by mid-July, will spend Rs. 80,000 crore on three of its greenfield projects which will take its total capacity in India to 35 million tonnes, company Managing Director, B. Muthuraman, said. “By mid-2010, we will be 10 million tonnes in Jamshedpur, making it the largest capacity in a single location in India,” he said during his speech at the centenary functions.

Status report

Giving a status report on the greenfield projects, he said in Orissa after three years of struggle to acquire land and after a satisfactory rehabilitation and resettlement policy (R&R), Tata Steel was about to start construction of the six million tonnes plant as soon as the required iron ore was allotted.

In Chhattisgarh, where a similar capacity was proposed, land acquisition is about to begin. In Jharkhand, where a 12 million tonne plant is proposed, an R&R policy is awaited and iron ore lease is also being awaited. “Our greenfield projects can be considerably speeded up if we are able to acquire land quickly and given captive leases of iron ore and coal,” he said in the presence of the Prime Minister.

He said the only way to contain price rise in steel was to create steel capacity matching with the fast pace of demand growth. Mr. Muthuraman said SAIL and Tata Steel were practicing self-restraint amid rising input costs.

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