PTI reported that Tata Steel Ltd will look to grow organically and is under no pressure to look at fresh acquisitions during this decade. Tata Steel Chief Executive Officer & Managing Director Mr TV Narendran told PTI “Most of our growth in the last few years has been through the inorganic route. Currently, we are in a position where all our growth ambitions can be met through organic growth in our existing sites. We don’t really need to acquire any new assets to grow output to 40-50 million tonnes per annum from the present level of 20 million tonnes per annum. We will rely more on organic growth during this decade.”He told “Neelachal Ispat Nigam Ltd output will be ramped up to 10 million tonnes per annum from 1 million tonnes per annum, while the Kalinganagar plant will see an expansion to 8 million tonnes per annum from 3 million tonnes per annum and later to 16 million tonnes per annum. So, there are huge opportunities and plans being made.”Tata Steel had reported production of 19.06 million tonnes in the 2021-2022 fiscal. It had acquired Bhushan Steel in 2018, Usha Martin in 2019 & is on course to complete the acquisition of Neelachal Ispat Nigam Ltd by the end of the April-June quarter.Mr Narendran however expressed apprehension about the crude steel production target of 300 million tonnes by 2030 as envisioned in the National Steel Policy 2017.He told “I don’t think 300 million tonnes by 2030 is realistic, because we have lost three-four years due to the pandemic and other factors. Even if it grows at 7-8% a year, you will be in the 200-250 million tonnes range. That would be a more realistic estimate.”
PTI reported that Tata Steel Ltd will look to grow organically and is under no pressure to look at fresh acquisitions during this decade. Tata Steel Chief Executive Officer & Managing Director Mr TV Narendran told PTI “Most of our growth in the last few years has been through the inorganic route. Currently, we are in a position where all our growth ambitions can be met through organic growth in our existing sites. We don’t really need to acquire any new assets to grow output to 40-50 million tonnes per annum from the present level of 20 million tonnes per annum. We will rely more on organic growth during this decade.”He told “Neelachal Ispat Nigam Ltd output will be ramped up to 10 million tonnes per annum from 1 million tonnes per annum, while the Kalinganagar plant will see an expansion to 8 million tonnes per annum from 3 million tonnes per annum and later to 16 million tonnes per annum. So, there are huge opportunities and plans being made.”Tata Steel had reported production of 19.06 million tonnes in the 2021-2022 fiscal. It had acquired Bhushan Steel in 2018, Usha Martin in 2019 & is on course to complete the acquisition of Neelachal Ispat Nigam Ltd by the end of the April-June quarter.Mr Narendran however expressed apprehension about the crude steel production target of 300 million tonnes by 2030 as envisioned in the National Steel Policy 2017.He told “I don’t think 300 million tonnes by 2030 is realistic, because we have lost three-four years due to the pandemic and other factors. Even if it grows at 7-8% a year, you will be in the 200-250 million tonnes range. That would be a more realistic estimate.”
