In a bid to fund first phase of its upcoming 6 million tonnes new steel mill in Odisha’s Kalinganagar, Tata Steel is planning to mop up Rs 13,000 crore within next six months. The said project is been divided into two equal phases of 3 million tonnes per annum (MTPA) and is estimated to require an investment of about Rs 35,000 crore.
This is the first integrated greenfield project of the company outside Jamshedpur in its over a century-old history. As of now, the company has deployed more than 25,000 workers for the construction of the plant, which is being developed to produce flat steel products only.
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.
