Neelachal Ispat Nigam commences operations
Tata Steel Long Products (TSLP accomplished a significant achievement with the restarting of the Blast Furnace at the Kalinganagar plant of its subsidiary Neelachal Ispat Nigam Ltd (NINL)
On 4th July, TSLP completed the acquisition of NINL, 90 days before.
The quick restart underlines Tata Steel’s commitment to the site, the underlying strength of the existing assets and its importance to Tata Steel’s strategy.
T V Narendran, Chairman of Tata Steel Long Products Ltd & NINL; CEO & Managing Director, Tata Steel, said, “Given that the site was not in operation for 2 years, we wanted to restart the furnace quickly, deploying and demonstrating Tata Steel’s strong execution capabilities.
We are now focused on ramping up production gradually to rated capacity as per plan. We are grateful to the Central Government, Government of Odisha, NINL
Employees, District Administration and local community for their steadfast support.”
Tata Steel already has category leading brands in its portfolio such as Tata Tiscon, and an extensive, pan-India retail and distribution network.
It has announced plans to invest in the NINL site to build a dedicated 4.5 million tons per annum state-of-the-art long products complex over the next few years.
Given the close proximity to Tata Steel’s existing facility at Kalinganagar, it is able to realise significant synergies in terms of shared infrastructure, resources, and management.