Tata Steel to double wire capacity

Tata Steel would aim to become the largest manufacturer of steel wires and fasteners in the world in the next four years, the managing director of the company said.

It was currently among the top five players in the sector globally with production of seven lakh tonnes per annum.

Tisco would need to double its production if it were to overtake the leading global manufacturer, which at present had annual capacity of around 14 lakh tonnes.

Record production was reported from Indian Steel and Wire Products (IS&WP), a company which Tisco took over in December 2003.

According to Tata Steel managing director B Muthuraman, "Tisco has set a goal of becoming the leading company in the manufacture of wire products in the world within the next four years. About 300,000 tonnes of wire is produced at the IS&WP and the wire division at Tarapore in Mumbai."

"In addition, NatSteel, acquired in Singapore recently, manufactures about 400,000 tonnes of wire," he said.

Muthuraman said within the next four years, Tata Steel would work to double production of wire products. Production at the IS&WP and Tarapore plants would be raised to 600,000 tonnes, while NatSteel capacity would be at 800,000 tonnes.

"Tata Steel has competitive advantages like having its own blast furnaces, steel melting shops and iron ore mines which will take it to the top slot in the global wire manufacturing sector", Muthuraman said.