TISCO to expand capacity through internal sources

TISCO to expand capacity through internal sources

Indian steel producer Tata Iron and Steel Corp (TISCO) is reportedly planning to expand its capacity through internal sources. As previously reported by SteelOrbis, TISCO announced that it would increase its current capacity of 2.4 million tons to 7.4 million tons by 2009 with an investment of Rupees 78 billion ($1.7 billion). The company officials stated that the investment for capacity expansion would be both funded through internal sources and long-term borrowings, depending on steel prices. However, with a recent statement, it is reported that all the investment will be funded through internal sources.