Tata Steel will continue to invest in Odisha which has 25 per cent of India’s total steel-making capacity to support the state’s growth, the company’s MD and CEO TV Narendran said on Thursday, 1 December. Tata Steel has so far made investments of over ₹75,000 crore in the state. TV Narendran was speaking at the ‘Make in Odisha Conclave 2022’ in Bhubaneswar, the state capital.
TV Narendran said, “The Tata group of companies, and more specifically Tata Steel, has invested over ₹75,000 crore in Odisha in the last five years. We will continue to invest to support the growth in Odisha.”
At the event, Narendran said that Tata Steel has not only built its plant in Kalinganagar over the past few years in Odisha but has also acquired several assets including Neelachal Ispat plant. He said that Tata Steel is the largest steel manufacturer in the state. Narendran said Tata Steel produces about nine million tonnes of steel, every year.
TV Narendran said, “We plan to double this over the next few years as we expand in all our locations in Odisha. Odisha accounts for 1/4th of the steel capacity in the country today.”
Steel Minister Jyotiraditya Scindia said India’s total steel-making capacity has touched about 150 MT mark.
(With agency inputs)
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