Jamshedpur : Tata Steel Managing Director (India and South East Asia) T V Narendran said that the company has plans to enhance the capacity of its Kalinganagar project in Odisha to 8 million tonnes per annum (mtpa) from 6 mtpa proposed earlier.
After unfurling the national flag to mark the Republic Day function in the Tata works Narendran said that the company had plans to produce six million tonne in two phases, but now they are working on plans to enhance the capacity to eight million tone.
” For enhancement we will have to make investment for the second phase and we are discussing how and when to invest for the purpose. The proposal will be put before the Tata Board in a couple of months,” he said here.
When questioned on cashless campaign launched by the government, he said that 80 to 90 per cent business of Tata Steel has been cashless. “I feel happy to inform that our business up to dealer level is 100 per cent cashless but dealing from dealers to rural customers was cash-driven,” Narendran said.
Tata Steelís greenfield project at Kalinganagar is the single largest investment in manufacturing in recent times in India.
Completion of the first phase of the project adds 3 MnTPA to Flat Products capacity with the ability to enter new market segments. It gives presence in the oil and gas, lifting and & excavation, infrastructure, defence, shipbuilding, energy & power sectors.