Tata's steelmaking capacity to rise by 5.6 mln tpy with Bhushan purchase

India’s Tata Steel will increase its steelmaking capacity by 5.6 million tonnes per year now that regulatory authorities have approved its purchase of Bhushan Steel.

The purchase will be made through Tata subsidiary Bamnipal Steel, with Tata Steel subscribing to 72.65% of the equity share capital of Bhushan Steel at 2 rupees ($0.03) per share, making a total of 1.59 billion rupees. The company’s production capacity will rise by 5.6 million tpy when it...

Published

Paul Lim

May 16, 2018

13:05 GMT

Singapore