To push up the production capacity, Tata Steel will soon acquire three steel companies by April 2018. These three companies are Monnet Steel, Bhushan Steel and Electro Steel. This information came out during the conversation with the Tata Workers Union leadership.
Mr. N. Chandrasekharan, the Chairman of Tata Group Chairman informed about this plan of Tata Steel. He also his expressed happiness over performance of Tata Steel and said the production capacity of Tata Steel (Indian Operations) will be increased.
What will be the changes?
In the upcoming next five years, the production capacity of Jamshedpur plant will be increased to 10 to 15 MT while the production capacity of Kalinganagar will be increased from 3 MT to 8 MT in the next three years.
What are other concerns shared in the meeting?
There were some concerns expressed over the performance of Tata Teleservices. It is clear that the loss of company is increasing. He also said that the performance of Tata Housing is also not good. Hence, the necessary steps are being taken to fix this.
Tata Steel
Tata Steel Limited is an Indian multinational steel-making company headquartered in Mumbai, Maharashtra, India. It is a subsidiary of the Tata Group. It is formerly known as Tata Iron and Steel Company Limited (TISCO).
