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.