Tata Steel has reported its net consolidated profit increased three-old, amounting to Rs 5,346.55 crore. The said profit is for the first quarter ending on June 30.
According to the company offi…
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Tata Steel
Producers in Western Europe are looking for higher value products other than steel because big steel Era is over in Western Europe, said by the Indian steelmaker who transformed the specialty steel business of Tata.
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Last year, Tata Steel has gone through expansion and after completing its expansion, this is the first time, company’s crude steel production exceed its installed capacity. It has been recorded that company’s production has increased by 4.4% over 6.564 mt for FY 2009-10.
The steel major installed capacity is 6.800 mt and company has shown an overall improvement with crude steel production of 6.855 million tonne (mt) surpassing its installed capacity in 2010-11.
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Posted on January 08th, 2011 in Company News, India, India Shares, Nippon Steel, Steel Sector, Tata Steel
Tata Steel has announced on Friday that it has signed a joint venture deal with Nippon Steel for establishing an Rs 2,300-crore worth specialty steel-making line.
The capacity of the plant will be 60,000 tonnes annually at Jamshedpur to serve domestic auto sector. The project is likely to be operative within next three years.
Tata Steel will be holding a majority stake of 51% in the not yet named joint venture entity as the Japanese major would own the remaining 49% stake. This has been informed by the domestic steel major in a filing to the Bombay Stock Exchange.
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