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Tata Steel Capex to Touch INR 9,000 Crore in 2019-20

Steel News - Published on Mon, 17 Feb 2020

Image Source: Tata Steel
As per media reports, Tata Steel Ltd is expecting its capex during the current fiscal to touch the INR 9,000 crore mark and will take a cautious approach at the capital allocation for the next financial year. As per reports “In the third quarter, company had spent about INR 2,777 crore, taking the total capital expenditure to INR 7,762 crore during the first nine months of the current fiscal. By the year-end, the capex will be around INR 9,000 crore.”

Reports quoted sources as saying that “We are looking at the capital allocation very sharply for the next year and it would depend on how the markets play out over the next few months. Company has prioritised the pellet plant and the cold-rolling mill. The pellet plant will help us to bring down costs while the cold-rolling mill to add value to the product mix. We maintain our target to commission the same in about a year from now. For other projects, the steel maker will phase it out depending on the market conditions.”

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Posted By : Nishith Sharma on Mon, 17 Feb 2020
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