Post News Network
Bhubaneswar, Oct 10: Tata Steel’s Kalinganagar project will help the steel major to tap the growth sectors of steel industry along with reinforcing its long term supply commitment to the automotive and other growth markets, the company said.
“Capacity addition through Kalinganagar project will open up new segments such as API (X80 and X100), heavy engineering, construction projects, lifting and excavation, electrical machineries, boiler plates, capital goods, ship building and defence which constitute market demand of 8,500k tonne per annum in financial year 2014-15,” the company said in its annual report.
“Post commissioning of KPO, not only will the company be able to complement products of existing facilities, but also address the entire range of HR (hot rolled) market by enhancing its capability to produce upto 1200 MPa tensile, 2050mm wide and 25mm thick HR coils,” it added.
The steel major also said that it would help in raising its market share in the automotive grade steel space. “The company’s ability to meet the emerging requirements in high strength automotive grades such as DP1200 and TRIP steel will help enhance its share of business (SOB) in the automotive market,” it said.
Tata Steel, which is facing headwinds in its European operations, will be able to supplement its business growth in domestic market post commissioning of Kalinganagar project.
The project, which is likely to be commissioned during the second half of this fiscal, has already seen investment worth Rs 22,000 crore in this greenfield project.
The project, which is being built in two phases of 3 million tonne each, will roll out high-end flat products from the facility. The project has already seen commencement of coke production from its coke ovens last month.
