Tata Steel to expand Kalinagar facility with Rs 23,500 cr plant

Tata Steel’s board has given nod for the expansion of the capacity of Kalinganagar plant by five million tonnes per annum (MTPA) to eight MTPA with an investment of Rs 23,500 crore.

In a statement, the company said the decision was taken at a meeting of the Board of Directors where the company’s long-term strategy including organic and inorganic growth opportunities were reviewed.

An amount of Rs 23,500 crore will be required for the project which the company aims at completing within 48 months from the date of commencement of construction, it stated.

“Following the successful implementation of the phase I of the Kalinganagar Project in Odisha, the board approved the next phase of expansion of capacity in Kalinganagar by 5 MTPA from 3 MTPA to 8 MTPA (million tonnes per annum),” Tata Steel added.

Image Credit : static-news.moneycontrol.com

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