The company is in the process of expanding the Kalinganagar
plant from 3 mtpa to 8 mtpa. Photo: Santosh Verma/Bloomberg News© Provided by Live Mint
Tata
Steel will continue to allocate around ₹10,000 crore a year for capital
expenditure to expand its production capacity to 40 million tons per annum
(mtpa) by 2030, N Chandrasekaran, chairman of Tata Sons Limited said at Tata
Steel’s annual general meeting on Monday.
“The
company is continuing to invest in capacity expansion as well as transformation
towards new steelmaking to reduce carbon emissions,” Chandrasekaran told
shareholders. Tata Steel, he said, would continue to deploy strategies for the
expansion plan and use the right technologies to make progress on
decarbonisation.
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Tata
Steel’s 0.75 mtpa scrap-based low-carbon electric-arc furnace in Ludhiana is
expected to be commissioned by 2026, helping it increase its long product
portfolio. The company plans to complete its expansion over the next 8 to 10
years while continuing to pare down its debt every year with excess cash flows
at the operating level. It aims to keep the debt-to-Ebitda ratio below 3.