From setting up scrapyards to steel recycling plants to developing new materials such as graphene, Tata Steel is looking to seed new businesses in a bid to limit the impact of uncertain steel pricing on its revenues.
TV Narendran, Managing Director, Tata Steel, told BusinessLine that 30 per cent of the company’s revenues would come from non-core businesses in five years.
Currently, it gets about 10 per cent of its revenue from these initiatives.
“We are planting the seeds of the future. One seed is the service and solution, the other is our new materials business, where we are working with graphene,” said Narendran.
Under the service and solution business, Tata Steel is selling finished steel products directly to the end consumer.
The company is already offering several products, including doors, windows, modular housing, and furniture.
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