Tata Ryerson in Rs 100 crore spread plan

Tata Ryerson, a 50:50 joint venture between Tata Steel and Ryerson Tull, will ramp up processed steel capacity to two million tonne in three years.

The company will invest Rs 100 crore in its units at Jamshedpur and Pune and in its new facilities at Faridabad and in the southern part of the country.

The company is weighing several funding options, including tapping the capital markets.

Though the Tata Ryerson board of directors has decided not to go for a listing in 2004-05, the option could be explored at a later stage.

Sandipan Chakravortty, managing director of Tata Ryerson, said the company's expansion plan at Jamshedpur was in tandem with Tata Steel's expansion programme, which entailed taking its capacity from four million tonne to seven million tonne.

At Faridabad, the facility which would be operational by the end of the calendar year, will cater to Tata Steel's client, Maruti Udyog Ltd.