Tata Steel Draws Plan to Expand its Steelmaking Capacity

SEATTLE (Scrap Monster): Tata Steel, in a statement released after taking over the ownership of Neelachal Ispat Nigam Limited’s (NINL) 1 million tonne per annum (MTPA) steel mill min Odisha, said that it plans significant expansion of its steelmaking capacity in the next few years.

Tata Steel declared its commitment to work "expeditiously" to restart NINL. The expansion plan aims to expand the production capacity of the complex to 4.5 MTPA of long products over the coming years. Furthermore, the capacity at NINL will be raised to 10 MTPA before the end of 2030.

Tata Steel had acquired NINL assets through its arm Tata Steel Long Products Ltd. (TSLP) for a consideration of INR 12,000 crore. The acquisition has been completed in accordance with the terms and conditions of the agreement signed in early March this year and in accordance with the process outlined by the Department of Investment and Public Asset Management (DIPAM).

T V Narendran, CEO & Managing Director of Tata Steel welcomed NINL and its employees to the Tata family. The acquisition reflects the company’s commitment to the state of Odisha and the communities around its operation. The acquisition will strengthen Tata Steel’s growth plan over the decade, he added.

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