Tata Steel plans capacity expansion at Bhushan Steel plant

Tata Steel Ltd plans to “eventually” scale up the nameplate capacity at its newly-acquired Tata Steel BSL (BSL), formerly Bhushan Steel Ltd, to 8.3 million tonnes (mtpa) from 5.6 mtpa. The plan was laid out by Rajeev Singhal, the new managing director of Tata Steel BSL. Tata Steel had on 18 May acquired Bhushan Steel in a ?35,300 crore deal under the Insolvency and Bankruptcy Code. At the time, Bhushan Steel was operating at 3.5mtpa, far below its installed capacity. Tata Steel executives said later that said synergies between the two companies have commenced, with slabs from Bhushan Steel’s factory sent to Tata Steel, while the former is gaining from coal procurement and product shipping lines of Tata Steel.