Tata Steel has slowed its ongoing expansion at the Kalinganagar steel mill in the eastern Indian state of Odisha. An innovative project for the expansion of the company, aimed at increasing the plant's capacity by 5 million tons per year, was carried out in early November 2018.
Commissioning of the expanded capacity will be delayed, according to a company press release. However, it did not provide an updated extension project completion. It was originally planned that the project will be completed within 4 years, by the end of 2022. The integrated steelmaker blames modest growth in domestic steel demand as the reason for the delay in the expansion project.
Tata Steel announced that the commissioning of the cold rolling and pellet mill will be completed in the 2020-21 financial year. The commissioning of the pellet plant will help the company reduce costs by reducing reliance on third-party pellet procurement.
Meanwhile, the company hopes that steel demand is likely to rise in FY20-21, driven largely by higher infrastructure spending and improved conditions for economic growth. The robust growth is expected to accelerate the expansion of the Kalinganagar plant, he said.
Tata Steel stakes on expanding Indian demand for rolled steel
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Azovpromstal® 18 February 2020 г. 09:56 |
