Source: CNBCTV18
Tata Steel on Thursday (May 22) kicked off the second phase of its plant in Kalinganagar, Odisha, expanding annual crude steel capacity from the current 3MT (million tonnes) to 8MT â at an investment of â¹27,000 crore. With this, Odisha has become Tata Steelâs largest investment destination.
The facility in Jajpur district will focus on advanced high-strength steel, catering to sectors like automotive, infrastructure, power, shipbuilding, and defence.
Odisha Chief Minister Mohan Charan Majhi inaugurated the project. Tata Steelâs CEO and Managing Director TV Narendran, senior state leaders, and members of the local community were also present.
Narendran said, "Kalinganagar is more than a manufacturing site for us. It symbolises what is possible when communities, government, and industry work together. This expansion reflects our deep belief in Odishaâs potential and our long-term commitment to this state."
Q4 results
Tata Steel announced its fourth-quarter earnings on May 12, reporting a consolidated net profit of â¹1,201 crore for the quarter ended March 2025. The figure exceeded CNBC-TV18âs estimate of â¹1,080 crore and more than doubled the previous yearâs â¹555 crore.
Tata Steel also announced plans to invest up to $2.5 billion in its Singapore-based subsidiary, T Steel Holdings Pte Ltd, as part of its ongoing international strategic initiatives.
Shares of Tata Steel ended 0.22% lower at â¹161.25 on the BSE today, May 22.
Also Read: TVS Motor partners with OOR Cabs to roll out 500 electric three-wheelers in Tamil Nadu
© Copyright 2025 . All Rights Reserved.
Privacy Policy