Tata Steel's European arm Corus today said it will invest 185 million pounds on one of its units in the UK, which will help augment annual production capacity by up to 400,000 tonnes.
"Corus is to invest 185 million pounds into the No 4 Blast Furnace at the Port Talbot steelworks.
"...The furnace is to undergo a rebuild, starting in July, 2012, which will equip it with technology to improve its safety, environmental performance and reliability," the company said in a statement here.
Corus has an estimated annual steel production of around 18-20 million tonnes.
Commenting on the development, Corus MD and Tata Steel Europe CEO Kirby Adams said, "This investment is a major step in achieving Tata Steel's ambition to position Port Talbot as a producer of high-quality strip products on a global scale and an internationally competitive cost base.
"As a result of this project the Port Talbot works and our downstream supply chain will be able in the coming decades to continue improving the quality of products and services provided to their UK and overseas strip product customers."
Corus said that the furnace is to undergo a rebuild, starting in July, 2012, which will equip it with technology to improve its safety, environmental performance and reliability and help increase capacity by up to 400,000 tonnes per year.