Tata's ten-year plan to hit 25 million tons capacity

Tata’s ten-year plan to hit 25 million tons capacity

Indian steel producer Tata Steel Inc announced plans to increase its annual production capacity to 25 million tons by 2015 through local investments and overseas acquisitions. Previously, the company had set a production target of 15 million tons by 2010. In addition to local investments, the expansion goals will be met through acquisitions both in the Southeast Asia and the West. Furthermore, the company has already initiated projects in Iran and Bangladesh. As previously reported by SteelOrbis, Tata Steel Inc acquired a 100 percent stake in NatSteel Asia. That purchase also included NatSteel's assets in Singapore, Malaysia, Thailand, Vietnam, the Philippines, Australia, and China. Apart from overseas expansion, Tata Steel is also carrying out a project that will increase the annual steel production capacity of Jamshedpur to 7 million tons from the current 5 million tons by 2008. Through the current projects and the future acquisitions, Tata Steel aims to increase its production capacity to 25 million tons by 2015.