Jamshedpur: Tata Steel will invest over Rs 2,100cr in two of its city-based companies, Tinplate Company India Ltd. (TCIL) and Indian Wire and Steel Products Ltd. (ISWPL), the steel major’s global CEO and MD T V Narendran has announced.
The MD said Tata Steel will invest Rs 1,500 crore in TCIL to double its production capacity and Rs 600 crore in ISWPL to install rolling mill in a phased manner over a period of the next two to three years.
The TCIL, which produces tinplate in cut sheets, coil form and Tin Free Steel (TFS) in sheet form has a production capacity of 3,79,000 MT per annum. ISWP produces galvanized wires, TMT rebars, among other commercial items.
The MD said the company would invest in the expansion of its downstream companies in the coming years. “The proposed investment will push up construction activity, bring jobs, and benefit the local economy,” he said while speaking at an interaction programme organised by the Singhbhum Chamber of Commerce and Industry (SCCI) at Chamber Bhavan on Monday.
Stating that there’s not much scope for the expansion at the company’s Jamshedpur plant, the MD said the focus is on augmenting the production at the greenfield Kalinganagar plant and the acquired companies — Tata Steel Bhushan Steel Ltd (TS BSL) and Neelachal Ispat Nigam Ltd (NINL). All three companies are located in Odisha. Further, the MD said the focus is on promoting MSMEs and vendors around the areas of the company’s operations.





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