Tata Steel to invest about Rs 3,461 crore in Europe

To improve performance of its operations in Europe and other areas, Tata Steel plans to deploy £400 mn (about Rs 3,461 crore) in its European unit in 2012-13. This investment comes after Tata Steel Europe reported a decline of over 67 per cent in its core profits (earnings before interest, taxes, depreciation, and amortisation) to $111 mn in April-June quarter as compared to $343 mn, a year ago. Contact: Tata Steel. Tel: 022-6665 8282. Website: www.tatasteel.com