TISCO invests Rupees 2.5 billion for ferro chrome unit
Market reports state that, in line with its expansion plans in steel business, Indian Tata Iron & Steel Company (TISCO) is going to start setting up a ferro chrome plant in South
Africa with an investment of Rupees 2.5 billion (approx. $55 million). The plant which is planned to commence
production in 2005, will have a capacity of 120'000 tons in the first phase.
Besides, TISCO will expand capacity by 1 million ton in its steel plant in Jamshedpur, from its current level of 4 million tons, by September 2005. Subsequently, the capacity will be raised up to 7 million tons by 2008.
TISCO's plans to become a global company in steel business also include mergers and acquisitions in and outside
India, particularly in
China,
Southeast Asia and
Far East due to demand expectation.