Tata Steel is planning to boost the operation of Neelachal Ispat Nigam (NINL) after completing acquisition, to rated capacity of 1.1 million tonne per annum within the next one year. However, the ramping up of the operations of Neelachal Ispat Nigam would be subject to obtaining statutory clearances.
Tata Steel’s arm, Tata Steel Long Products (TSLP), in January this year won the bid to acquire a 93.71 per cent stake in NINL at an enterprise value of Rs 12,100 crore.
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.
