Tata Sponge Iron (TSIL), a subsidiary of Tata Steel, will be producing up to 2 million tonne per annum of steel with sponge iron and scrap as its basic raw materials.
For this purpose, the company informed the Bombay Stock Exchange, the company will first increase its merchant DRI production capacity from the present 240,000 tonne to 840000 tonne and simultaneously add power generation facilities of up to 47.5 mw by recovering the waste heat of the kilns in the first phase of its expansion programme.
TSIL also plans backward integration to acquire iron ore mines & coal blocks considered very necessary for the expansion programme.
In the second phase, the company plans to generate additional power of up to 50 mw by putting up a fluidised bed boiler based power plant and then install electric arc furnaces to produce steel.
Meanwhile, the company would like to acquire its own iron ore mines and a coal block to become self sufficient in the critical supply of raw materials.
Tata Sponge to produce 2 mtpa of steel
Our Corporate Bureau / Mumbai May 25, 2004, 00:01 IST
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