Tata Steel's coke project in Haldia, in partnership with West Bengal Industrial Development Corporation (WBIDC), is estimated to cost around Rs 690 crore. |
At a recent analyst meet, the company said that the shareholders agreement was under discussion with WBIDC. |
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The proposed metallurgical coke plant in Haldia would have a capacity of 0.8 million tonne per annum and would be completed in 18 months from the go-ahead. |
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Industry sources said it made sense for the company to go for the project as the sector would come under pressure owing to coke and metcoke shortage. The project would support the company's growth plans in steel and was one of the several growth strategies lined up by the company in the medium term. |
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Tata Steel is adding one million tonne capacity. Further, 2.4 million tonne would be added in Jamshedpur to enhance the hot rolled (HR) capacity with a capital expenditure of Rs 7,800 crore. |
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In tune with its vision of becoming a 15-million tonne entity, Tata Steel has announced a greenfield project in Orissa and a steel plant in Bangladesh. |
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The company recently announced its Dhamra Port project, which would connet global and domestic operations. |
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In order to ensure the port and structural facilities for its integrated steel plant in Orissa, Tata Steel wants to co-develop Dhamra port. The project would be a joint venture with Larsen & Toubro and the estimated cost of the project would be around Rs 1,500 crore. |
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The company had acquired the steel business of NatSteel and company officials told analysts that the integration planning was currently underway. |
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In addition, Tata Steel had chalked out growth strategies in other business areas.The growth plans for minerals business entailed limestone in Thailand, titania in Tamil Nadu and ferro chrome in South Africa. |
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The Tata Steel scrip today closed at Rs 292.75 on the Bombay Stock Exchange (BSE) and at Rs 292.65 on the National Stock Exchange (NSE). Volumes on BSE and NSE were significant at 19,24,943 shares and 36,94,027 shares respectively. |
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