TISCO to increase its capacity to 15 million tons

TISCO to increase its capacity to 15 million tons

Indian steel producer Tata Iron and Steel Corporation (TISCO) plans to increase its annual production capacity to 15 million tons by 2010. In the first phase, capacity will be increased to 5 million tons by 2005-06. The capacity of 15 million tons is planned to be reached through acquisition of steel mills both in India and abroad and through enhancement of current mills. TISCO officials stated that they forecast steel demand to be strong in the next year and steel prices in India to keep their current levels in 2004.