Bhubaneswar: Neelachal Ispat Nigam Ltd (NINL) in Odisha’s Jajpur district has started operations nearly 90 days after it was acquired by a Tata Steel subsidiary for Rs 12,000 crore in a bidding process, reports said.
The plant with steel-making capacity of 1.1 million tonnes per annum was closed for almost two years due to various reasons.
Tata Steel Long Products (TSLP), a Tata Steel arm, reportedly said in a statement that it achieved a milestone with the restarting of the blast furnace at its subsidiary NINL, 90 days after the completion of its acquisition on July 4, 2022.
T V Narendran, Chairman of Tata Steel Long Products Ltd & NINL said in a statement, Given that the site was not in operation for two years, we wanted to restart the furnace quickly, deploying and demonstrating Tata Steel’s strong execution capabilities.
Narendran, who is also the CEO & Managing Director of parent Tata Steel, was quoted by PTI as saying that the focus is now on ramping up production gradually to rated capacity as per plan.
Tata Steel has plans to invest in the NINL site to build a dedicated 4.5 million tons per annum long products complex over the next few years.
