Tata Steel Ltd.

Tata Steel has incorporated a new subsidiary, Tata Steel Odisha, in order to spearhead its new greenfield six million tonne steel plant located in Odisha’s Kalinganagar. The project will be implemented in two phases of 3 million tonne each.

The company has successfully negotiated for financial closure which will meet the funding requirement of both the phases of the project. The company managed Rs 22,800 crore worth of project financing and tied up with a consortium of 21 banks and financial institutions for the same.

Tata Steel has successfully implemented its 3 million tonnes per annum brownfield expansion at Jamshedpur to take total capacity to 10 million tonnes in March 2013. The group is now embarking on its next phase of growth and is setting up a 6 million tonne steel project in Odisha.