The board of directors of Indian steelmaker Tata Steel limited has approved a slew of expansion projects at its various domestic facilities to deepen its presence in key steel consuming sectors, the company said in a statement on Friday, December 12.
The company has approved expanding the capacity of its subsidiary Neelachal Ispat Nigam limited (NINL), which operates a steel plant in the eastern state of Odisha, by 4.8 million tonnes per annum from one million tonnes per annum in now.
The company said the project will further benefit from the growth of the construction sector with an expanded portfolio of long products and will cater to high-margin retail sales.
Tata Steel limited acquired NINL in 2022, successfully participating in the government's disinvestment program and participating in the bidding.
The company's board also has approved funds required for carrying out design and engineering work for setting up a 2.5 million tonne per annum thin slab casting and rolling facility at Tata Steel's Meramandali plant in Odisha.
As part of its strategy to strengthen its manufacturing capabilities, Tata Steel Bluescope Private limited, a joint venture for the production of non-ferrous construction steel, will set up a pickling and galvanizing line for rolled products with a capacity of 0.7 million tons per year at its existing cold rolling mill in the western state of Maharashtra, the company said.
