Business Economy


Tata Steel Board approves major capacity expansions, New Tech Push

Hyderabad, Dec 10 (UNI) Tata Steel’s Board has cleared several key initiatives to accelerate long-term growth in India, focusing on capacity expansion, downstream integration and low-carbon technologies.
The Board granted in-principle approval for a 4.8 MTPA expansion at Neelachal Ispat Nigam Ltd, boosting the company’s long products portfolio and supporting construction-sector demand,, the company said in a release here on Wednesday.
It also approved funding for design and regulatory processes to set up a 2.5 MTPA thin slab caster and rolling mill at Meramandali, aimed at expanding thinner-gauge flat steel production.
Further strengthening its downstream presence, Tata Steel will establish a 0.7 MTPA Hot Rolled Pickling and Galvanizing Line at Tarapur, Maharashtra —India’s first such facility—to support automotive customers and import substitution.
The company also signed an MoU with Lloyds Metals & Energy Ltd to explore joint opportunities in mining, logistics and a proposed 6 MTPA greenfield steel plant in Maharashtra.
In another strategic move, Tata Steel has signed agreements to acquire a 50.01% stake in Thriveni Pellets Pvt Ltd, which owns Brahmani River Pellets’ 4 MTPA pellet plant and 212-km slurry pipeline in Odisha.
The Board also approved beginning engineering and regulatory processes for a 1 MTPA HIsarna low-carbon steel demonstration plant in Jamshedpur, marking a major step toward sustainable steelmaking technologies.
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