Neelachal Ispat Nigam Ltd (NINL), situated in Odisha, has officially begun operations about 90 days after being purchased by a Tata Steel subsidiary for INR 12,000 crore through a competitive bidding process.
Due to a number of factors, the facility with a production capacity of 1.1 million tons of steel was shut down for over two years.
Just 90 days after the conclusion of its acquisition on July 4, 2022, Tata Steel Long Products (TSLP), a Tata Steel subsidiary, said that it had accomplished a significant milestone with the restarting of the blast furnace at its subsidiary NINL.
Given that the plant had been out of commission for two years, TV Narendran, Chairman of Tata Steel Long Products Ltd. and NINL, stated, "We wanted to restart the furnace swiftly, deploying and displaying Tata Steel's excellent execution skills."
The focus is now on progressively ramping up production to rated capacity in accordance with plan, according to Narendran, who is also the CEO and Managing Director of parent Tata Steel.
Over the next few years, Tata Steel intends to invest in the NINL site to construct a complex for long products with a capacity of 4.5 million tons annually.
The materials and information on this article have been prepared or assembled by Viet Nam Steel and are intended for informational purposes only