TSIL in search for acquiring sponge iron plant
Indian steel producer Tata Iron and Steel Corp's (TISCO) affiliate Tata
Sponge Iron Ltd (TSIL) is reportedly in search for acquiring
sponge iron plant after Orissa government's approval of new
investments in steel plants through incentives.
The approval of the government encouraged TSIL to convert a part of
sponge iron it produces to steel. Moreover, the company plans to acquire
iron ore mines.
In line the plan of TSIL, 2 million tons of steel with
sponge iron and
scrap will be produced annually.