Tata Steel outlines Rs 10,000-12,000 cr annual India capex over next 5 yrs

Tata Steel is poised for the next phase of growth even as it continues to stay the course on deleveraging.

Over the next five years, the average India capital expenditure is estimated at Rs 10,000-12,000 crore per annum and that excludes potential acquisitions. As against a $1 billion annual debt reduction target, the company is likely to reduce gross debt by over $2 billion in FY22.

Koushik Chatterjee, executive director and chief financial officer, Tata Steel, told investors on Tuesday that the company would continue to deleverage and make its balance sheet stronger in order to position for the next