TATA STEEL IS on track to achieve its target of attaining 40 million tonne per annum (MTPA) of production capacity by 2030 in India, even as it secured full insurance cover for its pension liabilities in the UK.
The steel behemoth's present capacity in India stands at about 21.6 MTPA and the company expects benefits of ₹2,000 crore from the merger of its subsidiaries with itself.
"On the growth front, the company continues to scale up its business in India by way of both organic capital expansion and inorganic acquisitions and is steadfast in its objective of achieving its 2030 target of an overall 40 MTPA capacity, "Tata Steel chairman N Chandrasekaran told shareholders at the company's AGM held virtually on Wednesday.
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