Indian steelmaker Tata Steel Limited’s board of directors has approved a slew of expansion projects at its various domestic facilities to deepen its presence across key steel-user sectors, a company statement said on Friday, December 12.
The company has approved the expansion of the capacity of its subsidiary Neelachal Ispat Nigam Limited (NINL), which operates a steel mill in the eastern state of Odisha, by 4.8 million mt per year from one million mt per year at present.
The company said that the project would further capitalize on growth of the construction sector with an expanded long product portfolio and would cater to highly profitable retail sales.
Tata Steel Limited had acquired NINL in 2022 by successfully participating in and bidding in the government’s disinvestment program.
The company board has also approved funds required to undertake design and engineering works to set up a 2.5 million mt per year thin slab caster and rolling facility at Tata Steel’s Meramandali plant in Odisha.
In line with its strategy to bolster its downstream facilities, Tata Steel Bluescope Private Limited, a joint venture for color coated construction steel, will set up a 0.7 million mt per year capacity rolled pickling and galvanizing line at its existing cold rolling mill in the western state of Maharashtra, the company said.