Tata Steel aims to produce 32 million tonnes per year of crude steel at its Indian operations by 2025, the company said.
The 2025 capacity target in India would constitute the entirety of the steelmakers' global crude capacity following the planned divestment of operations in Asia and a planned joint venture of European flat steel operations with Germany's ThyssenKrupp.Of the Indian steelmaker's current group-wide capacity of 33 million tpy, 44% is at its European operations in the Netherlands and the UK. The remaining 56% - or around 18.5 million tpy - which includes capacity at the recently acquired Bhushan Steel, is in India."Tata Steel continues to grow its footprint in India in terms of volumes, downstream capability and product portfolio," chief executive officer and managing director TV Narendran said in Tata Steel's quarterly results presentation on Thursday April 25."Despite subdued steel markets and weak growth in our key customer segments,...