TCIL to sell 25% more tinplate: Muthuraman

Tinplate Company of India Ltd (TCIL), an associate company of Tata Steel, would produce and sell 25 per cent more this year, said B Muthuraman, chairman TCIL.

Addressing shareholders at the company’s annual general meeting, Muthuraman said, “The company would be selling more with the additional tinning capacity.”

TCIL was in the process of investing Rs 650 crore in a tinning line and cold rolling mill (CRM). Muthuraman said, Rs 200 crore had already been invested in the tinning line and the company was in the process of investing Rs 450 crore in the CRM.

The raw material for tinplate is CR and the company is hoping to maximize the second tinning capacity with the CRM.

 

With the commissioning of the second tinning line in October 2008, the company’s processing line had doubled to 3,80,000 tonnes. TCIL had announced a rights issue and fully convertible debentures for part funding the expansion plans.

Muthuraman explained that the expansion made sense as India would be the food factory of the world. TCIL is also a major supplier to Singapore, Malaysia, West Asian and European countries.