Tata Steel to acquire three steel companies by April 2018: N Chandrasekaran


    Tata Sons chairman attends companys Board Meeting at Jamshedpur Plant

    Jamshedpur: Tata Steel is planning acquisition of Monnet Steel, Bhushan Steel and Electro Steel by April 2018 in a bid to increase the production capacity of its Indian operations. This was disclosed by the Tata Sons chairman N Chandrasekaran during a meeting with Tata Workers Union leaders in the company’s Board Room on Monday.

    During the 40 minute long conversation, the chairman informed the Union leaders about company’s future plans. Chandrasekaran expressed satisfaction over the company’s performance. He said the Tata Group was pleased with the continuous good performance of Tata Steel. He said the production capacity of Jamshedpur plant would be increased from 10 to 15 MT in the next five years while the production capacity of Kalinganagar plant would be increased from 3 MT to 8 MT in the next three years.

    The Tata Sons chairman however expressed worry over the performance of Tata Teleservices. He said the company’s deficit was growing and that steps were being taken to improve its performance. He also said that the performance of Tata Housing was also not satisfactory while the remaining companies of Tata Group were performing well.

    Peter Blauwhoff attends Board meeting

    Dr Peter Blauwhoff, additional (Independent) director, Tata Steel said the company has a bright future. He said the company was looking for all kinds of options including investment to ensure company’s further growth and expansion.

    Cancer Hospital to be opened in Ranchi

    Chandrasekaran said the Tata Trust had given approval to open 12 cancer hospitals in the Eastern India. An investment of Rs 10,000 crore would be made for this purpose. In Ranchi too, a modern cancer hospital would be opened. The cancer hospital in Jamshedpur would be upgraded by spending Rs 100 crore. Talks have been held with the Chief Secretary of Jharkhand for land allotment to open the proposed hospital in Ranchi.

    Branches of TCS and Tata Teleservices in Jamshedpur

    Talking to Union leaders, the Tata Sons chairman said the Tata Group was considering the demands raised by the union for opening branches of other Tata companies in Jamshedpur to provide job opportunities to their wards. He said the union had raised the demand on 2nd March last. He said the Group would try to open branches of Tata Consultancy Services, Tata Teleservices and Tata Housing company in Jamshedpur.

    Demand for TISS branch in city

    TWU leaders demanded that a branch of Tata Institute of Social Science (TISS) be opened in Jamshedpur after Guwahati and Mumbai. The Tata Sons chairman said the demand would be considered. Tata Steel MD T V Narendran said the process to open a medical college in Jamshedpur was on. He said talks were held with Manipal University and the process was almost complete. He said the result would be visible very soon.

    Planning for 10 years is on, says Chairman

    Union leaders raised the traffic jam issue before the chairman. Chandrasekaran said a plan was underway to make Jamshedpur a Smart City while keeping the next 10 years n mind. A technical team is working on plans to build flyovers, widen streets and improve logistics, transportation and other basic facilities, he said.

    Work together with Athletics Club: Chandrasekaran

    Chandrasekaran advised Tata Steel officials to work together with the Athletics Club to hone talents from different places. He said recently athlete Mike Powell from USA had come to Kolkata. He said there was wide scope for athletes in the country.

    Chairman praises union leadership

    Tata Sons chairman praised TWU leaders for their cooperative attitude. He said a mention about TWU was made in a presentation during signing of a Joint Venture between Tata Steel and a European company. He said the union had helped Tata Steel make progress since 1920.

    TWU’s contributions in the freedom struggle

    Union leaders informed the chairman about the role of TWU in the freedom struggle. They took names of Netaji Subhash Chandra Bose, Abdul Bari and several other former union leaders to remember their contributions to the country.

    MD introduces TWU leaders to chairman

    Tata Steel MD TV Narendran introduced the office-bearers of Tata Workers Union to the Tata Sons chairman before beginning of the meeting in the Board Room. The chairman spoke on various plans and issues in the presence of top officials of Tata Steel.
    Among those present included Anand Sen, president of TQM and Steel Business, Saurabh Agrawal, Group CFO, SD Tripathy, vice president (HRM), Zubin Palia, Group Chief (IR), R Ravi Prasad, TWU president, Sanjeev Choudhary, deputy president, BK Dinda, general secretary, vice president Arvind Pandey and Bhagwan Singh.


    Leave a Reply Cancel reply

    Exit mobile version