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Odisha emerges as Tata Steel Limited’s biggest investment destination

Tuesday, 17 September 2024 14:43:36 (GMT+3)   |   Kolkata
       

The eastern Indian state of Odisha will emerge as Tata Steel Limited’s single largest investment destination following the second phase expansion of its Kalinganagar steel mill to 8 million mt from 3 million mt at present, a company statement said on Tuesday, September 17.

The company said that the $3.21 billion expansion of the Kalinganagar steel mill is almost complete and that it is on the verge of commissioning its expanded capacity.

The expansion in Kalinganagar will play an important role in Tata Steel's ambition to achieve its target of 40 million mt per year capacity in India by 2030, the company said.

Along with the Tata Steel Meramandali (formerly Bhushan Steel Ltd) plant in the Dhenkanal district, the company's total investment in Odisha stands at over $12 billion, the company said.

“Even as the company is on the verge of commissioning its expanded capacity in Kalinganagar, Tata Steel believes that the plant has further scope to double this to 16 million mt per year in the coming years, which will further strengthen Odisha's role in Tata Steel’s growth journey,” the release added.


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