TV Narendran: Tata Steel may increase CapEx to achieve 40 MT target

10 May 2022 CW Team

Narendran said that if the company moves on with its growth plans, it would be able to meet its 40 million tonnes (MT) installed capacity target in India by 2030.

In India, the company's installed capacity is 20.6 MTs. In fiscal year (FY) 2022, the company produced 19.06 MTs.

The company expects to spend Rs 12,000 crore on capital expenditure (CapEx) this FY. It will, however, review the situation after six months and, if necessary, amend it upwards.

Narendran said that they can always go back to the board and ask for more and spend more if the markets are robust, the cash flows are high, and the deleveraging is proceeding as expected.

The MD informed that unlike before when the group just had one location in Jamshedpur, growth could only happen in stages.

Currently, they have two locations in Kalinganagar and one in Angul, so they have the flexibility to expand faster tomorrow if demand in India goes up and profitability remains strong.

He said that, while the corporation is not currently updating the 2030 schedule, it would continue to do so.

The 40 MT plan comprises extending the Kalinganagar plant to around 16 MT capacity from the current 8 MT expansion, including expanding the Neelachal Ispat Nigam (NINL) site to 10 MT capacity from its current 1 MT capacity. The purchase of NINL is likely to be completed by June.

After acquiring Bhushan Steel, the company's capacity was increased from 3 million to 5 MT per year, with the potential to grow to 10 MT.

Currently, Rs 8,500 crore has been set aside for the ongoing growth of Kalinganagar from 3 million to 8 MT per annum, as well as significant expansions in the company's iron ore mining, which it plans to increase from 33 million to 50 MT per annum over the next few years.

The remaining Rs 3,500 crore will be used for operations in Europe. During the year, the business will also invest Rs 12,000 crore to complete the recent acquisition of NINL.

Image Source

Also read: Tata Steel to break ties from its business with Russia

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

TV Narendran, Tata Steel's CEO and Managing Director, announced that the rising steel pricing and strong demand might lead the company to accelerate its declared capacity expansion objective by a few years. Narendran said that if the company moves on with its growth plans, it would be able to meet its 40 million tonnes (MT) installed capacity target in India by 2030. In India, the company's installed capacity is 20.6 MTs. In fiscal year (FY) 2022, the company produced 19.06 MTs. The company expects to spend Rs 12,000 crore on capital expenditure (CapEx) this FY. It will, however, review the situation after six months and, if necessary, amend it upwards. Narendran said that they can always go back to the board and ask for more and spend more if the markets are robust, the cash flows are high, and the deleveraging is proceeding as expected. The MD informed that unlike before when the group just had one location in Jamshedpur, growth could only happen in stages. Currently, they have two locations in Kalinganagar and one in Angul, so they have the flexibility to expand faster tomorrow if demand in India goes up and profitability remains strong. He said that, while the corporation is not currently updating the 2030 schedule, it would continue to do so. The 40 MT plan comprises extending the Kalinganagar plant to around 16 MT capacity from the current 8 MT expansion, including expanding the Neelachal Ispat Nigam (NINL) site to 10 MT capacity from its current 1 MT capacity. The purchase of NINL is likely to be completed by June. After acquiring Bhushan Steel, the company's capacity was increased from 3 million to 5 MT per year, with the potential to grow to 10 MT. Currently, Rs 8,500 crore has been set aside for the ongoing growth of Kalinganagar from 3 million to 8 MT per annum, as well as significant expansions in the company's iron ore mining, which it plans to increase from 33 million to 50 MT per annum over the next few years. The remaining Rs 3,500 crore will be used for operations in Europe. During the year, the business will also invest Rs 12,000 crore to complete the recent acquisition of NINL. Image Source Also read: Tata Steel to break ties from its business with Russia

Real Estate

26 Jun 2026

AGM Vijaylaxmi launches Sixty3 W.E. Bizpark

AGM Vijaylaxmi Group has launched Sixty3 W.E. Bizpark, a mixed-use commercial development in Goregaon East, Mumbai. The project includes contemporary office spaces and a high-street retail component designed to support businesses, retailers and professionals.Located along the Western Express Highway, Sixty3 W.E. Bizpark is planned as a G+25-storey commercial tower. It offers office spaces ranging from 545 sq ft to 3,200 sq ft, with a 3.60 metre floor-to-floor height aimed at improving spatial comfort, natural light and operational efficiency.The project features a high-street retail boulevard ..

Real Estate

26 Jun 2026

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

Infrastructure Urban

26 Jun 2026

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..