TISCO's new production target is 15 million tons

TISCO’s new production target is 15 million tons

According to statement released from Tata Iron and Steel Corp (TISCO), the company targets to increase its production capacity to 15 million tons by year 2010. The company aimed to increase its current capacity of 4 million tons to 8 million tons by 2007, as previously reported by SteelOrbis. The managing director of TISCO B.Muthuraman stated that the capacity increase will be effected through some acquisitons and projects. The company is also expected to enter titanium and ferro-chrome businesses. The capacity increase will be effected step by step. The first target is increasing the capacity by 1 million tons by March 2005, for which the facilities are scheduled to be completed by December 2004. As of this date, the company plans to order equipment for a further capacity increase of 2 million tons. The capacity, which is expected to reach about 8 millions by year 2007 will be increased to 15 million tons by 2010 through expansions both in India and overseas countries.