Bhubaneswar: Tata Steel pins hope on Odidha operation for its growth in the country.
The Company is ramping up its 3 mtpa steel plant in Odisha’s Kalinga Nagar to 8mtpa with the commissioning of India’s largest 5mtpa blast furnace in September, this year. With ramp up of Kalinganagar facilities, India’s crude steel capacity will increased to 26.6 MTPA.
“In September 2024, we successfully commissioned the 5 MTPA blast furnace at Kalinganagar, said Tata Steel CEO & MD, TV Narendran, adding, “This coupled with the 2.2 MTPA CRM complex will further improve our product mix.”
Company ED & CFO Koushik Chatterjee said, ” Our second blast furnace at Kalinganagar is ramping up well and associated facilities such as Continuous Annealing Line and Air Separation Unit will be commissioned in the later part of the year”.
Tata Steel has placed equipment orders for our 0.85 MTPA Electric Arc Furnace plant in Ludhiana.
The compamy spent around Rs 8,583 crores on capital expenditure during the half year, mostly in India.
The Company has delivered broadly consistent performance, with India deliveries at 10.1 million tons for the half year. Domestic deliveries rose by 5% for the half year on YoY basis.
India revenues in Q2 ending September 30,2024 were around Rs 32,660 crores and margin of 21% works out to an EBITDA of Rs 6,912 crores. For the half-year, revenues were Rs 65,853 crores and EBITDA was Rs 13,946 crores.
