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This is an archive article published on November 3, 2003
Tisco to invest Rs 250 crore on chrome project in South Africa
As part of its globalisation strategy and enhanced focus on mineral business, TATA Steel, a flagship of Ratan Tata group, has firmed up its ...
2 min read
As part of its globalisation strategy and enhanced focus on mineral business, TATA Steel, a flagship of Ratan Tata group, has firmed up its plan to set up chrome producing plant in South Africa with an investment of over Rs 250 crore.
The company is in the process of getting clearances in South Africa and hopes to start production in 2005, sources in Tata steel (TISCO) said while adding that in the first phase a plant with a capacity of 1.2 lakh tonnes would be set up.
Officials said that this is part of TISCO’s plans to go global and besides this the company has chalked out a detailed strategy which also includes acquisitions and mergers both within the country and outside.
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On acquiring Mascons plant in Sri Lanka is also in progress, the officials said, adding that this would involve a very small investment of about Rs three crore. Mascons is a plant for making metal wires.
In South Africa, officials said that environmental impact process is on besides discussion with the potential joint venture partner. The plant would be set up as a greenfield project they said but declined to give details about the joint venture partner.
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