2018-12-01
Tata Steel stated this in a presentation made to
investors on November 29. It also said services and solutions would generate
around 20% of its revenues by 2025. Tata Steel’s generated 69% of revenues
through enriched and value added product mix in H1FY19. The company is
targeting a total capacity of 30 million tonne by 2025.
Koushk Chatterjee, CFO, Tata Steel said the
company’s acquisition of Bhushan steel and Usha Marin was a step towards adding more value added steels in its
portfolio. This will be reinforced by deploying more capital in value added
downstream assets and venture. It would also pursue a plan of divestment,
strategic restructuring and monetisation of non-synergistic ventures, he added.
The company said it has raised Rs 19,400 crore in
last seven years through divestments that will be used to deleverage its
balance sheet. It is also looking at other portfolio restructuring options that
includes Tata-Thyssen joint venture in Europe, the Sedibeng iron ore property in South Africa,
Cogent, its electrical steels plant at Newport in the UK, TRL Krosaki, a
refractory unit in Belpahar, Odisha and the South East Asia cluster.
Tata Steel has emerged as the most integrated
steel producer with a current steel-making capacity of 18.6 million tonne in
FY19. While it has 100% iron ore security till 2030, the company said it can
rely on captive sources for over 25% of its coal requirement.
Bhushan Steel has been a “value accretive”
acquisition, Tata Steel said that will give additional capacity to retain
marketshare in a growing market, higher downstream integration and value
addition with a complementary product mix, closer access to key markets in
North and West and the option to scale up capacity through brownfield
expansion.
Describing acquisition of Usha Martin as a first step in building a sustainable long products portfolio, Tata Steel
said it would help retain its long product market share while marking an entry
into a special steels segment and enhance its product basket for automotive
customers while leveraging its customer base for improved customer service with
a wider offering. UML’s additional land at Barajamda can also be used for
setting up a beneficiation plant it added.
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