Tata Steel is moving towards expanding its capacity to 40 million tonnes per year

The Indian steelmaker Tata Steel is making progress towards its long-term goal of expanding its steel production capacity to 40 million tonnes per year. This was discussed during the annual general meeting of shareholders, according to SteelRadar.

The steelmaker also expects to achieve positive EBITDA and net profit after tax at its UK operations by the 2028/2029 financial year.

According to the announced roadmap, Tata Steel will create additional production capacity of 4.8 million tonnes at Neelachal Ispat Nigam (NINL), one of its subsidiaries, and 2.5 million tonnes at the Tata Steel Meramandali plant.

The company also plans to build a new steelworks with an annual capacity of 6 million tonnes in the state of Maharashtra.

Furthermore, Tata Steel aims to significantly increase its capacity for the production of value-added steel products. As part of these plans, the company will, in particular, increase its production capacity for steel pipes from 1.7 million tonnes to 4 million tonnes, and for wire rod from 600,000 tonnes to 1 million tonnes.

It is worth noting that Tata Steel believes India will continue to be a growing market for steel. This was stated by the company’s Chief Financial Officer, Kushik Chatterjee. Demand for steel in the country is growing by 7–8 per cent a year, and he believes this momentum will continue over the next two decades thanks to infrastructure development and a focus on new growth sectors, such as data centres, shipbuilding and defence manufacturing.