Left Menu
Development News Edition

Tata Steel capex likely to touch 9,000cr in FY20

PTI | Kolkata | Updated: 16-02-2020 15:18 IST | Created: 16-02-2020 15:18 IST
Tata Steel capex likely to touch 9,000cr in FY20

Tata Steel Ltd is expecting its capex during the current fiscal to touch the Rs 9,000-crore

mark, company sources said. The steel major, however, will take a cautious

approach at the capital allocation for the next financial year, they said.

The steel maker had, earlier, said that it would revise the planned capital expenditure for the 2019-20 to Rs

8,000 crore from Rs 12,000 crore for the group. In the third quarter, company had spent about Rs 2,777

crore, taking the total capital expenditure to Rs 7,762 crore during the first nine months of the current fiscal, sources

said. The company had invested around Rs 1,367 crore for its

India operation, including about Rs 935 crore expenditure for its Kalinganagar plant in Odisha, they said.

"A part of the capex is committed to Tata Steel Europe. Thus, the actual spending will be higher. By the

year-end, the capex will be around Rs 9,000 crore. "But (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," sources said.

They said the 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," the company had informed the analysts.

For other projects, the steel maker will phase it out depending on the market conditions, soures added. PTI BSM

BDC BDC


TRENDING

OPINION / BLOG / INTERVIEW

New farm bills in India: Focusing on farms or farmers?

... ...

Kenya’s COVID-19 response: Chaos amid lack of information

Confusing numbers and scanty information on how effective curfews and lockdowns have been in breaking transmission have amplified coordination and planning challenges in Kenyas response to COVID-19. Without accurate data, it is impossible t...

Farkhad Akhmedov: Calculating the price of impunity from the law

In insistences such as the battle over the Luna, Akhmedov has resorted to extreme legal machinations to subvert the High Courts decision and keep his assets from being seized. ...

Guinea’s elections hearken back to the autocracy and violence of its past

... ...

Videos

Latest News

We are well prepared to take on Pakistan despite lack of international cricket: Zimbabwe skipper

Zimbabwe limited-overs captain Chamu Chibhabha feels the introduction of the ODI Super League has raised the stakes for bilateral contests and they travel to Pakistan for a limited overs tour knowing they can upstage the home team. While...

Above normal rainfall increases acreage, but may impact total output of kharif: NBHC

With above normal rainfall during the monsoon, farmers have sown record 1,095.37 lakh hectares so far , though output of cereals like rice and maize is likely to be impacted, according to the National Bulk Handling Corporations first kharif...

October 2020 update rolling out to Realme 7 Pro

Realme 7 Pro has started receiving a new over-the-air OTA update that brings October 2020 security patch to the phone along with a few optimizations and fixes, the company confirmed in a post on the Realme forum.As usual, the update will ha...

TN Ministers meet Guv, seek nod for 7.5 per cent med quota

A five-member ministerial delegation of the Tamil Nadu cabinet on Tuesday met Governor Banwarilal Purohit, seeking approval for a bill providing 7.5 per cent reservation on a preferential basis in medical admissions for state government sch...

Give Feedback