Tata Steel's first 9 month production buoyant

Kolkata, Jan 03: Tata Steel completed the first nine months of Financial Year 2007 on a buoyant note with impressive increase in its production and sales volumes.

Both hot metal (4.1 million tonnes) and crude steel production (3.7 million tonnes) was higher compared to the figures of corresponding period last year. The saleable steel production at 3.66 million tonnes registered a significant increase of 11 per cent.

The total sales recorded 3,532 million tonnes, an increase of 11.70 per cent. The domestic sale of long product increased by 30 per cent, a company release said.

The Indian Automotive Market is expected to see a growth of 17 to 18 per cent in the current fiscal.

Tata Steel is all set to take the advantage of this boom in the automotive industry. The market share in domestic automotive segment is expected to be 43% in FY07 as against 41% in FY06. In terms of volume, this would translate into increase in sales to approximately 0.85 million tonnes as against 0.67 million tonnes in FY06, a growth of 29 per cent, the release said. Another notable improvement would be increase in sales of Galvanized products to 43,000 mt in FY07(E) from 27000 mt in FY06.

Tata Steel also received awards from Hyundai, Honda Motorcycle, TVS and Whirlpool.

Tata Steel's greenfield projects in Orissa and Chattisgarh were progressing on scheduled with placement of equipment order for Kalinganagar Project and commencement of the land acquisition process. The Jharkhand Project was awaiting announcement of R&R policy of the state government, due to be announced by the end of this month. The constructioin work of Ferrochrome Project in South Africa is in full swing.

UNI