Tata Steel Posts Record Output After Bhushan Steel Acquisition
Mumbai: After its acquisition of the Bhushan Steel in Odisha, Tata Steel’s output has risen to a record 35 per cent to 16.79 million tons in the year ended March 31, the company said in a statement on Saturday.
Bhushan Steel added 4.2 million tons to output.
Tata Steel is increasingly shifting its focus to India, where demand is growing due to a government-led emphasis on building new infrastructure. The state-run Steel Authority of India Ltd. also reported record production of 16.3 million tons earlier this week.
However, steel production at Tata’s Europe division fell 3.7 per cent to 10.3 million tons during the 12 months to March, the company said. The European Commission is reviewing a plan by Tata to merge its European operations with those of Thyssenkrupp AG.L.P.