Tata steel eyeing more acquisitions

By siliconindia   |   Thursday, 25 November 2010, 20:17 IST
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Singapore: To meet the booming demand in India and abroad, India's steel maker Tata is planning to boost its capacity through acquisitions. "Right now, we have Europe, Southeast Asia and South Asia and in terms of new operations, we're constantly looking into countries in terms of steelmaking and in terms of raw materials." Officials said. In India, capacity is expected to rise to 10 million tonnes in the near future from around 7.5 million tonnes currently, he said. Tata Steel will also build a 12-million-tonne a year steel plant in Jharkhand and other facilities elsewhere including in Orissa. The company is in the process of securing clearances for a nearly 5-million-tonne integrated steel plant in Vietnam and is also working to boost its capacity in India. The company has a global capacity of around 30 million tones, two -third from European unit, a quarter from Indian operations and the rest from units and joint ventures in Thailand, Singapore, Vietnam and the Philippines.