Tata Steel Ltd. plans to invest Rs 16,000 crore capex in FY25, with a major focus on expanding Kalinganagar and decarbonising operations in the UK, according to Chief Executive Officer and Managing Director TV Narendran.
“The Indian steel consumption growth will be greater than the GDP growth rate. Steel consumption growth in India is expected to be 8–10%,” he said.
“India will lead the way for steel consumption globally—there is no other market like India,” the CEO said. “We do see possible activities in the Middle East and Africa in the future,” he said, in terms of new markets.