India-based steelmaker Tata Steel has announced a major five-year improvement program for its IJmuiden steelworks in the Netherlands to sustain the plant's potential to be a world-class steelmaker. The investment to be made in this program may amount to €800 million over the five-year period.
According to the Tata Steel statement, the improvement program will focus on further enhancing product quality, improving plant reliability and reducing costs. The program aims to achieve both cost reductions and growth through investment.
Within the scope of the program, the Ijmuiden steelworks' annual capacity will increase from 7.2 million mt to 7.7 million mt of liquid steel by 2015-16. Other aspects of the improvement program will include environmental performance, maintenance and optimization of installations, further enhancing product quality, and energy efficiency. Tata Steel will also invest in staff training and development.