Tata Steel, led by CEO TV Narendran, has announced its intention to establish a scrap-based electric arc furnace (EAF) route steel mill in southern India. The company is already underway with the construction of a 750,000 metric ton per year capacity EAF route steel mill in Ludhiana, located in northern India. The Ludhiana project is expected to be completed within the next two years, and if successful, this model will be replicated across the country.
Tata Steel’s chairman, N. Chandrasekaran, assured shareholders that the company is on track to increase its steelmaking capacity to 40 million metric tons per year by 2030. Currently, the company possesses a domestic capacity of 21.6 million metric tons. Chandrasekaran emphasized that Tata Steel is pursuing capacity expansion through both organic and inorganic means.