TISCO reports rise in its production

TISCO reports rise in its production

Indian steel producer Tata Iron and Steel Corp (TISCO) has reported a 4% increase in its steel production in the first half of the current fiscal year. The steel production amounted to 2.09 million tons against 2 million tons recorded in the corresponding period of previous fiscal year. TISCO's supplies to automotive sector, which covers hot rolled coil, cold rolled coil and galvanized steel products, increased by 41% against the figure recorded in the first half of previous fiscal year. Moreover, the company's supplies to original equipment (OE) manufacturers increased by 24%. TISCO is currently working on capacity expansion plan. The company plans to increase its production capacity by 1 million tons with an investment of Rupees 20 billion ($435 million). The project is scheduled to be completed by March 2005. Meanwhile, the company will temporarily close its blast furnace in December for upgrades.