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Tata Steel consolidated its utilities and infra services biz under TSUISL

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Tata Steel announced that the company is reorganizing its India footprint into 4 clusters to drive scale, synergies and simplification and to create value for all stakeholders.

As part of the said initiative, the company on 03 April 2021 transferred the (i) 100% stake it held in Tata Steel Special Economic Zone (TSSEZ), (ii) 100% stake it held in The Tata Pigments (TPL), (iii) 32.67% stake it held in Jamipol (JAMIPOL), and (iv) 20.99% stake it held in Nicco Jubilee Park (NJPL) to Tata Steel Utilities and Infrastructure Services (TSUISL) (formerly known as Jamshedpur Utilities & Services Company), a wholly owned subsidiary of the company.

TSUISL has been identified as the anchor entity for the Utilities and Infrastructure Services cluster.

Accordingly, the Company's investment(s) held in entities forming part of the Utilities and Infrastructure Services business are being consolidated with TSUISL.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, April 05 2021. 14:22 IST
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