Tata earmarks Rs70,000cr capex for next 10 years

 The company announced a dividend of 130%a and plans to raise about Rs 6,500 crore through a preferential issue over the next two years.

"We will be raising around Rs 6,500 crore and Tata sons will be putting 10%. This fund is necessary for expansion in Jamshedpur, acquisitions at right time and also to meet the requirements of 3 greenfield projects, viz Orissa, Chhattisgarh and Jharkhand," he said.

The Jamshedpur plant, Tata said will be expanded and it will have a capacity of 1.8 million tonne per annum.