Tata Steel to invest Rs 1,100 cr to up ore output

摘要

Tata Steel, the world's sixth largest steel maker, is raising its annual iron ore production by 55 per cent to 17 million tonnes in India over the next two years. The expansion is expected to cost about Rs 1,100 crore.rnThe move is aimed at insulating its steel plant at Jamshedpur in Jharkhand from fluctuating raw material prices. The increased ore output will be used to feed the Jamshedpur plant, which is raising its operational capacity to 10 million tonnes by 2011 from the current seven million tonnes.rnTata Steel has two captive mines in the country that produce 11 mt anual-ly. The entire production from the mines is consumed by the Jamshedpur plant, eventually helping the company to reduce its input costs by one-fourth.