Tata Steel Ltd.

Tata Steel, world’s 6th largest steel company, aims acquisitions in steel scrap recycling in South East Asia. The company will also continue to invest upstream to increase its self-sufficiency in raw materials.

The company is looking for tier two or three opportunities preferably in Southeast Asia where it believes there is scrap’s deficiency. The company is aims at attaining 50% self-sufficiency in raw materials by focusing on steel raw materials such as iron ore, coking coal and steel scrap. However, it is unlikely to reach this goal by 2014, as previously estimated, as the 2008 economic downturn slowed the acquisition process.

The Indian unit of the company is already self-sufficient in iron ore, but imports some coking coal. Tata Europe has 10-12% self-sufficiency in raw material. Tata Steel agreed to sell its 26% stake in Australia's Riversdale to Rio Tinto for $1.1 billion earlier this year, giving the Anglo-Australian giant full control of the coal miner.