Tata Steel's Indian projects not to be affected by Corus takeover

Kolkata, Oct 20 (UNI) Tata Steel today said its brownfield and greenfield projects in India and abroad would not be affected by the acquisition of European steel giant Corus for 4.3 billion pounds (Rs 36,500 crore).

The Board of Directors of the two companies today approved the deal paving the way for creating the world's fifth largest steel entity with a capacity of 23.5 million tonnes per year.

The ongoing 1.8 million tonnes per annum steel expansion project in Jamshedpur would be commissioned by mid 2008, Tata Steel Managing Director B Muthuraman told reporters through web-conference from London.

Further, three million tonnes per annum expansion project in Jamshedpur to increase total crude steel capacity to 10 million tonnes per annum, Mr Muthuraman said.

In case of the Orissa project, Tata Steel has started placing orders and the first phase of three million tonnes per annum capacity would be commissioned by 2009, followed by a second phase of three million tonnes per annum by 2011, he said.

The other projects in Chhattisgarh and Jharkhand would continue, he said adding that the planned projects in Ijmuiden and Scunthorpe would also be completed.

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