TISCO to expand production 1.5 mio ton further
TISCO aims to expand its steel
production 1.5 million tons further after the completion of the previous plan of expansion of steel
production to one million ton at Jamshedpur, that is to be scheduled to complete by September 2005. To conduct the plan, the company has hired Nippon Steel.
The expenditure for the completion of the first plan is expected to be Rs 2.175 crore ($475.6million) , whereas, according to industry analysts, completion of the second plan will cost roughly Rs 2.300-Rs 3.000 crore ($503-656million).
Currently, TISCO has annual
production capacity of 4 million tons. With the completion of the plan at Jamshedpur, the annual capacity is expected to increase to 5 million tons. After this stage, the company aims to increase the capacity to further 1.5 million tons and the officials state that after 2005, the capacity may even go up to seven million tons.