Tata Steel expects to invest over 1,000 crore to increase NeelanchalIspat Nigam’s capacity to 5 million tonne per annum from 1.5 mtpa.
Tata Steel‘s managing director, TV Narendran, stated that the team has already assumed control of the factory since it was bought on July 4 and that work to resume production is well underway.
“We hope to start the blast furnace in three months and other facilities in subsequent months. The biggest problem is in coke ovens, which should not be shut down without taking pre-cautions. Unfortunately, that was done two years back, so it will take at least six months for us to revive it,” he added.
Mines associated with Neelanchal are already operational and raw material has started moving to the plant. Tata Steel plans to sell pig iron from Neelanchal by October and achieve rated steel production capacity of one lakh tonne per month by March, he said.
