India’s Tata Steel Limited will invest an estimated $273 million on its two subsidiaries, Tinplate Company India Limited (TCIL) and Indian Wire and Steel Products Limited (IWSPL), over the next three years, a company official said on Wednesday, June 8.
TCIL produces tinplate in cut sheets and coil forms with a production capacity of 379,000 mt per year, while IWSPL producers galvanized wires and rebar.
Tata Steel CEO T V Narendran said that there was not much scope for expansion at the company’s mill at Jamshedpur in the east and hence the focus was on investment for expanding the capacities of its subsidiaries, the Kalinganagar mill in Odisha, and recently acquired steel companies like Tata Steel BSL Limited and Neelachal Ispat Nigam Limited (NINL).