Financial Daily from THE HINDU group of publications
Sunday, Jul 03, 2005
Financial Daily from THE HINDU group of publications Sunday, Jul 03, 2005 |
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Corporate
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Performance Tata Steel hot metal, crude steel production up in Q1 Our Bureau
Mumbai , July 2 TATA Steel has completed the first quarter of FY 2005-06 with a rise in liquid iron and crude steel production levels. Liquid iron or hot metal at 1.21 million tonnes was 6.5 per cent higher compared to the volumes in the first quarter last year. Crude steel production at 1.11 million tonnes (mt) amounted to a 5.3-per cent increase. The gains were against the backdrop of the company's largest furnace, the revamped `G' furnace, being commissioned in April and reaching rated capacity in the second half of May. With the increased iron-making capacity, Tata Steel's dependence on purchased metallics has gone down substantially, an official statement said. According to it, the company took the first step in its 2-mt expansion programme in Jamshedpur by assigning orders to Outokumpu and L&T for setting up a 2-mt iron ore sinter plant. Outokumpu is a technology leader in this field and has designed 300 such plants across the world including the three sinter plants at the Jamshedpur works. Tata Steel has now initiated another 2-mt expansion programme in line with its vision of becoming a 15-mt steel company by 2010.
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