TISCO to build a new steel plant

TISCO to build a new steel plant

Indian steel producer Tata Iron and Steel Corporation (TISCO) reportedly plans to build a new company called Tata Blue Scope for downstream processing of steel. The new plant is scheduled to be operational in 3-4 months. Declining to give details of the plant, the company officials hinted that they would be involved in downstream processing like coating of cold rolled products. The company officials also stated that TISCO will invest Rupees 120 billion ($2.7 billion) in its expansion and modernization project. The company will increase its production from 5 million tons to 7 million tons by mid-2008 through its ongoing projects.