Tata Steel to invest $ 22.8 b for capex

By agencies   |   Friday, 09 September 2005, 19:30 IST
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KOLKATA: Tata Steel Ltd., India's largest private sector steel maker, will invest $22.8 billion over 12-15 years to raise capacity to 33 million tons, a company official said on Friday. Sanjay Choudhry, head of corporate communications at Tata Steel, said the firm would be setting up three greenfield steel plants having a combined capacity of 23 million tons in India. It would also acquire a plant with a 2 million ton capacity in Southeast Asia in the next 4-5 months. Choudhry said the company would raise the investment amount through internal accruals and market borrowings.

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