Tata Steel which has make investments of over Rs 75,000 crore in Odisha will continue to invest in the state which has 25 per cent of India’s total steel making capacity, its MD & CEO T V Narendran said. Narendran made the remarks at the ‘Make in Odisha Conclave 2022’ in Bhubaneswar on Thursday.
“The Tata group of companies, and more specifically Tata Steel, has invested over Rs 75,000 crore in Odisha in the last five years. We will continue to invest to support the growth in Odisha,” the official said.
Over the last few years in Odisha, Tata Steel has not just built its plant in Kalinganagar, but has also acquired several assets which include Neelachal Ispat plant, he said.
According to Narendran, Tata Steel is the largest steel manufacturer in Odisha producing about 9 million tonnes of steel annually.
“We plan to double this over the next few years as we expand in all our locations in Odisha. Odisha accounts for 1/4th of the steel capacity in the country today,” he said.
Steel Minister Jyotiraditya Scindia said India’s total steel making capacity has touched about 150 MT mark.