Deleveraging is an enterprise priority for Tata Steel: Koushik Chatterjee

Bhushan Steel fundamentally is a good asset. Our integration process is on course, says Tata Steel CFO Koushik Chatterjee

Steel prices have come off their highs since Tata Steel acquired Bhushan Steel through the Insolvency and Bankruptcy Code (IBC). But Koushik Chatterjee, executive director and chief financial officer, Tata Steel, tells Ishita Ayan Dutt that the firm will reduce debt by $1 billion in the next 12 months and is focused on the target. Edited excerpts:

Steel prices were at a high when Bhushan Steel was acquired. Will the payback period get stretched?

The fundamental strategy and the long-term economics of any acquisition are not influenced by near-term prices. That the industry is cyclical in nature is always factored