October 07, 2008

TATA Metaliks to set up long product plant in Karnataka

PTI reported that Indian pig iron maker TATA Metaliks is planning to invest around INR 1,000 crore to build a 0.8 million tonne plant for manufacturing long products in Karnataka and has begun scouting for around 500 acres of land in the state.

The report cited a company official as saying that "On an invitation from the Karnataka Udyog Mitra, TATA Metaliks is seeking to establish a 0.8 million tonne plant in the state at an estimated investment of about INR 1,000 crore. The state government has indicated to us that it will take care of our raw material needs and we feel encouraged.”

However, it is likely to take another 3 months to 4 months to finalize the blueprint for the plant.

TATA Metaliks Ltd is engaged in the business of manufacturing and selling pig iron and its plants at Kharagpur in West Bengal and at Redi in Maharashtra with captive power plants.