In a National Council Meeting organized in Bangalore on July 05, 2013, Vice Chairman of Tata Steel, Mr. B. Muthuraman said on the sideline of Chamber of Indian Industry (CII) that the company expects a sales growth of 15% in FY 14. “Tata Steel has just implemented its 10 million ton project in Jamshedpur that is in full swing. So I do see our sales to be up compared to last year by 15 percent,” said, Mr. Muthuraman.
Tata Steel Limited is one among the top ten global steelmakers and world’s second largest steel producer. It is a part of the Tata Group, which is India’s largest industrial corporation. It has its manufacturing operations spread in 26 countries over the world, including countries like Australia, China, India, the Netherlands, Singapore, Thailand and the United Kingdom. Its largest plant is located in Jamshedpur, Jharkhand.
Tata Steel is also going to implement with its Odisha project which will be commenced by 2014. “This project will be of three million tonne capacity. Second phase will be another three million tonne and will get over in another two to three years,” Muthuraman further added.
Tata Steel has also requested the government of Karnataka to start with the fresh allotment process of providing lease for the iron ore mines. They should at least allot the mining lease to the steel makers or those industries which are interested in adding value to the iron ore by producing steel. This allotment will not only help the steel makers but will also bring in employment opportunity for the residents of the state, Karnataka.
However, concluding with his words, Mr. Muthuraman said that it is presently difficult to give any comments on the overall business environment of the country.