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 — at an investment of ₹27,000 crore. With this, Odisha has become Tata Steel’s 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 Steel’s 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 Odisha’s 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 ₹1,201 crore for the quarter ended March 2025. The figure exceeded CNBC-TV18’s estimate of ₹1,080 crore and more than doubled the previous year’s ₹555 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 ₹161.25 on the BSE today, May 22.

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