Tata Steel is aiming to commission the initial phase of its 6 MnT Odisha plant by March 2015.
Work on initial phase of Odisha plant, entailing an investment of INR 251.64 billion, is on full swing. The first ever integrated Greenfield project of Tata Steel, outside Jamshedpur, is on the track. Project is split into two units of 3 MnT each. It is meant to produce flat steel products for the automobile industry.
“We have completed the 3 MnT expansion in Jamshedpur, taking our capacity in Jamshedpur to 10 MnT and should commission the first phase of our 6 MnT Steel plant in Kalinganagar in Odisha towards the end of the next financial year”, said T V Narendran, Managing Director, Tata Steel India & SEA.
The company is optimistic on long term growth prospects & hence continues to invest in building new facilities & capabilities. Though, it seems to be challenging year owing to slowdown in Steel consumption especially in automobile & construction sector. But, the company could grow up to 12 per cent over last year, which is much better than the market. It also affirms about its continuous improvement on SE Asian operations.
Narendran added, “the emotional connect between our employees and the company is one of our greatest strengths and this coupled with the relationships that we have with our customers, distributors and other partners and service providers is one of the reasons why we feel confident that we can deal with all challenges that come our way”.
The company was recently awarded with the Prime Minister’s Trophy for the best Steel plant in addition to getting the CII sustainability award.