August 22, 2008

TATA Steel Thailand furnace project facing construction delays

Reuters reported that Thai steel major TATA Steel (Thailand)’s mini blast furnace project would be delayed and cost slightly more than expected due to construction delays.

The furnace project, operated by its 99.66% owned subsidiary NTS Steel Group, is expected to be completed in second quarter of 2009 instead of the third quarter of 2008.

TATA Steel (Thailand) has also raised the project budget to THB 3.8 billion (USD 120 million) from an earlier THB 3.4 billion.