Tata Steel has outlaid a capital expenditure of Rs 3,000 crore for its European operations as its focus is to make the business stronger. In Europe, the company's operation is being separated into Tata Steel Netherlands and Tata Steel UK which would help in cost efficiencies and management focus. The European business this year will be cash positive in terms of EBIDTA and PAT. It will be a strong year for European businesses as well.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 company.
