Tata Steel in search for new businesses

Tata Steel in search for new businesses

Indian steel maker Tata Steel, stepping up its new business initiatives, is now seeking to set up coal mining alliances with state governments, particularly Jarkhand, Chhattisgarh and Orissa, or other mine owner entities such as Steel Authority of India and Central Coalfields Ltd. It is yet to be clarified in the ongoing discussions with state governments whether the mines would be sub-leased or only an operating agreement would be set up. Tata Steel is also developing projects for iron ore, titanium and ferro chrome businesses. The company is at the same time seeking to establish ideal acquisitions. All these initiatives are for the company's goal to become EVA positive by the end of 2007, on average prices. Meanwhile Tata Steel has very recently launched its first branded cold rolled steel under the name of Tata Steelium.