Tata Steel announced that Odisha is set to become the company’s largest investment destination following the phase-II expansion of its Kalinganagar plant. This expansion will increase the plant’s capacity from 3 million tonnes per annum to 8 million tonnes per annum. The company has invested Rs 270 billion in this phase of the expansion and is nearing the commissioning of the new capacity at the unit, according to a press release.
The ongoing expansion at Kalinganagar is expected to significantly contribute to Tata Steel’s goal of reaching a 40 million tonnes per annum capacity in India by 2030. The company indicated that the phase-II expansion of its Kalinganagar plant in Jajpur district will also elevate Odisha to a prominent position as the largest investment destination for Tata Steel, which is the country’s oldest steel maker.
Together with the Tata Steel Meramandali plant (formerly Bhushan Steel) in Dhenkanal district, the company’s total investment in Odisha exceeds Rs 1 trillion. As Tata Steel approaches the commissioning of its expanded Kalinganagar plant, which will have a capacity of 8 million tonnes per annum, the company also sees potential to further increase this capacity to 16 million tonnes per annum in the future. This will further enhance Odisha’s role in Tata Steel’s growth journey, the release noted.