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India’s Tata Steel Invests up to $795 Million in Expansion of Capacity of Subsidiary NlNL

Tata Steel Limited, India's leading steel company, announced on March 29th its plans to invest approximately $795 million (equivalent to approximately 5.748 billion RMB) in its subsidiary, Neelachal Ispat Nigam Limited (NINL), for the expansion of its long steel products.

NINL, acquired through the Indian government's disinvestment program in early 2022, is a producer of long steel products. Since acquiring this state-owned enterprise, Tata Steel's focus has been on revitalizing the facility and increasing its production capacity to 1.1 million tons per year. The company further stated its intentions to expand NINL's capacity by an additional 4 million tons per year in the next phase, ultimately reaching a production capacity of 5 million tons per year.

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Additionally, NINL boasts a 62-megawatt captive power plant and reserves of 90 million tons of iron ore. It is strategically located adjacent to another steel plant owned by Tata Steel in India, which is nearing completion of its expansion project to increase its capacity to 5 million tons per year. This synergy is expected to create a significant boost in production capacity.


Post time: Apr-16-2024