April 23, 2012: Tata Steel plans to commission the first phase of its upcoming steel plant at Kalinga Nagar in Odisha by March next year.
"It (the commissioning) will be somewhere between October and March (next year). The first phase will have a capacity of 3.5 million tonnes," Tata Steel Managing Director H M Nerurkar said here.
The company has invested over Rs 11,000 crore in the new plant, which will produce flat steel products. The company has kept a capex of about Rs 4,000 crore (USD 800 million) this year for the Kalinga Nagar unit.
The second phase, which will increase Kalinga Nagar steel unit's total production capacity to 5.5 million tonnes per annum (MTPA), will be completed by March 2015, Nerurkar said.
He was speaking to reporters after receiving the Most Admired Company award from management consultancy firm Hay Group and Fortune India magazine.