Tata Steel Commissions India's Largest Blast Furnace In Odisha

Tata Steel Ltd. said on Friday that it commissioned India's largest blast furnace at Odisha's Kalinganagar. With the total investment of Rs 27,000 crore, the Phase II expansion will take the total capacity to 8 million metric tonnes per annum from 3 million metric tonnes per annum, according to an exchange filing.

The newly inaugurated plant will help Tata Steel enhance the plant's overall production capabilities along with fulfilling the growing demand of various industries, including automotive, infrastructure, power, and shipbuilding, the filing said.

After the Phase II expansion, Odisha became the largest investment destination in India for the company, with an aggregate investment of over Rs 1 lakh crore in the last 10 years, it said.

The Phase II expansion at Kalinganagar is a key enabler of socio-economic development in the region, Chief Executive Officer TV Narendran said. "The expansion not only strengthens Tata Steel's position as a leader in high-end, value-added steel segments but also showcases our advanced engineering prowess."

Shares of Tata Steel closed 3.63% higher at Rs 229.90 apiece on the BSE, compared to a 1.63% rise in the benchmark Sensex. The stock has risen 18.49% in the last 12 months and 8.9% on a year-to-date basis on the NSE.

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