Tata to set up 6 mn tonne plant in Karnataka

Will invest Rs 35,000 cr, earlier plan was to have a 3 mn tonne unit at Rs 15,000 cr

Tata Steel today signed an Expression of Interest (EoI) to establish a six million tonnes per annum plant in Haveri district of Karnataka with a total investment of over Rs 35,000 crore, an official said.

Tata Metaliks Limited, with the support of its parent company Tata Steel Limited, had initially proposed to set up a three MTPA integrated steel plant in Haveri district with an investment of over Rs 15,000 crore, the company said.

Tata Steel now proposes to upscale the project from three MTPA to six MTPA with an additional investment of Rs 20,000 crore, it added.

Tata Steel Managing Director Hemant Nerurkar signed the EoI on behalf of the company while Maheshwar Rao, Commissioner of Industrial Development and Director of Industries and Commerce, Karnataka, signed on behalf of the state government at the two-day Global Investors Meet 2012 which concluded here today.