Tata Steel earmarks Rs 12,000 cr for plant in Chattisgarh

Tata Steel plans to invest about Rs 12,000 crore in its 5 million tonne per annum greenfield steel plant in Chattisgarh. Stating this, Tata Steel managing director B Muthuraman said here today that the company had signed a memorandum of understanding with the state government to this effect in June this year.

Muthuraman said the company was looking to acquire a steel plant in South Asia but refused to give details.

At the release of the book, 'Tata Steel becoming world class', he said the company was also looking forward to buying coal mines. "We are open to buying coal mines anywhere in the world," said Muthuraman.

He said the company was assessing where to set up its second plant in Jharkhand or Manoharpur or Chandil.