Tata Steel announced that it has successfully commissioned Phase II of blast furnace located at Kalinganagar, Odisha.
With a total investment of Rs 27,000 crore, the Phase II expansion at Kalinganagar will take the total capacity at the site from 3 million tonnes per annum (MTPA) to 8 MTPA
The new blast furnace will significantly boost the plant’s overall production capabilities, allowing the company to meet the growing demands of various industries, including automotive, infrastructure, power, shipbuilding, and defence. It will also provide advantages in specific areas like oil & gas, lifting & excavation, and construction.
Key facilities in phase II expansion at Kalinganagar also include a pellet plant, coke plant, and cold rolling mill, each incorporating advanced technologies and sustainable practices.
With the Phase II expansion, Odisha has emerged as the largest investment destination in India for Tata Steel, with a total cumulated investment of over Rs 100,000 crore in the last 10 years, the company stated in regulatory filing.
T. V. Narendran, CEO and managing director, Tata Steel, said, The commissioning of Indias largest blast furnace at Kalinganagar is a momentous occasion for the steel industry, setting new benchmarks in capacity, technology, and sustainability. A key enabler of socio-economic development in the region, the expansion not only strengthens Tata Steel’s position as a leader in high-end, value-added steel segments but also showcases our advanced engineering prowess.
It underscores our commitment to boosting private investment in India, aligning with the nation’s vision for self-reliance and sustainable industrial growth. On behalf of Tata Steel, I thank the Government of Odisha for their unwavering support and applaud the collective efforts of our employees, suppliers & vendor partners, and all other stakeholders in enabling this significant milestone.
Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 35 million tons per annum.
The steel majors consolidated net profit surged 51.37% to Rs 959.61 crore in Q1 FY25 as against Rs 633.95 crore reported in Q1 FY24. Total revenue from operations fell 7.93% year on year (YoY) to Rs 54,771.39 crore in the quarter ended 30 June 2024.
The scrip advanced 1.64% to ends at Rs 152.05 on Friday, 21 September 2024.
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First Published: Sep 21 2024 | 8:57 AM IST
