Tata Steel has announced plans for consolidated capital expenditure (capex) of INR 16,000 crore (USD 1.95 bln) for both its domestic and global operations in the current financial year.
The company further specified that out of this amount, INR 10,000 crore (USD 1.22 bln) will be directed towards Tata Steel Standalone operations, with the Kalinganagar project accounting for approximately 70 pct of it. The company is currently expanding the capacity of its plant in Kalinganagar, Odisha, from 3 mln tons to 8 mln tons.
The officials said the company’s other Indian subsidiaries, which are currently undergoing expansion with value-accretive projects, particularly in downstream operations, essential for meeting customer needs and improving the value-added product mix, will have a capex of approximately INR 2,000 crore (USD 244 mln).
Regarding Tata Steel’s operations in Europe, Tata Steel Nederland is expected to incur a capex of INR 1,100 crore (USD 134 mln) for the relining of its blast furnace, which is already underway. The remaining capex will be primarily allocated to sustainability, environmental initiatives, and improvement projects, as outlined by the company leaders.
1 USD / 81.9 INR
