Combi Mill at ISWP to become operational within the next 2-3 months: Narendran
Tata Steel CEO expresses concern over China’s unfair competition
Jamshedpur: Tata Steel CEO and MD, T.V. Narendran emphasized the importance of Jamshedpur’s active cooperation in navigating current challenges and ensuring the city’s progress. He highlighted the need for collective efforts to keep the city clean and well-maintained, stressing that the support of its residents is vital for both the city’s development and the growth of the steel business.
“Jamshedpur has to be taken forward, and in these challenging times, the cooperation of the city will be crucial. Along with cleanliness, citizens’ active participation in maintaining the city’s infrastructure is essential to ensure it remains better equipped for future demands,” Narendran stated.
Looking ahead, Narendran expressed optimism about the future, stating that the coming years hold promising opportunities. However, he underscored the need for preparedness to tackle emerging challenges. “The future will be much better, but we all need to be ready to face the challenges that lie ahead,” he concluded.
Earlier, T.V. Narendran, expressed concerns over the challenges posed by China’s aggressive pricing strategies in the global steel market. Speaking during the New Year cake cutting celebration at Centre for Excellence near Jubilee Park in Jamshedpur on Wednesday, Narendran highlighted that the influx of cheap steel from China is significantly impacting the global steel industry.
“China’s economic situation is affecting the global industry. They are exporting steel at extremely low prices, even at a loss, which creates unfair competition. While competition is healthy, unfair practices are detrimental to the industry,” he said.
Narendran emphasized the need for government intervention to protect the domestic steel industry from such challenges. “The industry has requested the imposition of safeguard duty to curb cheap imports and promote local investment. We are looking forward to the upcoming Union Budget for measures, including a potential increase in customs duty on steel imports,” he added. Despite these challenges, he assured that Tata Steel is well-positioned and profitable in India due to its competitiveness and the growing demand for steel.
According to reports, the Steel Ministry has also urged the Ministry of Finance to double the basic customs duty on imported finished steel products from 7.5% to 15% in the upcoming budget. According to sources, India is likely to impose a “safeguard duty” or temporary tax of up to 25% on steel imports to address the dumping of cheap steel by China.
“The commerce ministry has been supporting the industry during this difficult phase,” Narendran noted.
Despite global challenges, Narendran pointed out that the domestic steel market remains resilient, with an 8% growth in demand. He highlighted the private sector’s significant contribution to the steel industry, with annual investments of ₹50,000 crore, of which Tata Steel contributes around ₹15,000 crore.
Narendran shared details of the company’s recent investments, including ₹1500 crore in the wire division for the 0.5 MTPA Combi Mill at The Indian Steel & Wire Products Limited (ISWP). This facility is expected to become operational within the next 2-3 months. He also mentioned downstream investments in Tinplate and a new mill in the Tube Division, along with ongoing work on an electric furnace.
Narendran highlighted efforts to enhance sustainability and efficiency. While the Jamshedpur plant’s production capacity of 11 MTPA cannot be increased, the company is working on reducing carbon emissions and optimizing operations. He mentioned ongoing projects, including the installation of a new blast furnace.
“At the Kalinganagar plant, 4,000 employees produce 8 MTPA of steel, and we have a housing society spread over 100 acres. This is in stark contrast to Jamshedpur, where 11 MTPA of steel is produced across 1,700 acres while managing a city,” he explained.
Preparing for 2030 Challenge
Narendran also addressed Tata Steel’s readiness for the 2030 challenge, when the leases for four of its legacy captive iron ore mines—Joda East, Noamundi, Katamati, and Khondbond—will expire due to regulatory changes. These mines currently provide low-cost iron ore for the company’s domestic operations.
“We are preparing to adapt to these changes and maintain our competitive edge,” he assured.
Replying to a query, Tata Steel MD said, safety remains a priority for Tata Steel, he acknowledged it as a persistent challenge. “AI can support safety initiatives, but the fundamental change must come from human behavior,” he added.
Narendran concluded by highlighting Tata Steel’s collaboration with the Jharkhand government for future investments. “Jharkhand is unique as it houses mining, steel, and the auto sector. We are in discussions with the state government to explore more opportunities,” Narendran signed off.
Also present were Chanakya Chaudhary, Vice President, Corporate Services, Tata Steel, former Tinplate MD RN Sharma and prominent citizens of Jamshedpur.
