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Jul 05, 2022 - BY Admin

Tata Steel to work expeditiously to restart NINL, expand capacity to 10 MT by 2030

Tata Steel NSE 1.99 % on Monday said it will work "expeditiously" to restart NINL and simultaneously draw a plan to expand its capacity to produce 4.5 MTPA long products complex in the next few years. In a statement, issued after completing the acquisition of Odisha-based one million tonne per annum (MTPA) steel mill, Tata Steel said it also has to increase NINL's capacity to 10 MTPA by 2030.The acquisition has been made by step-down company Tata Steel Long Products Ltd NSE 2.53 % (TSLP) for a consideration amount of Rs 12,000 crore."The plan is to not only restart 1 MTPA steel plant expeditiously but to also work simultaneously to expand the capacity by building a 4.5 million tonnes per annum state-of-the-art long products complex in the next few years, and further expand it to 10 MTPA by 2030," it said. --economictimes