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Tata Steel to Implement Tata Metaliks' Karnataka Project

  •   Fri, Sep 24 2010 11:59:57 PM

Kolkata, Sep 24 (IANS): Steel major Tata Steel is likely to implement the three million tonne steel project of Tata Metaliks (TML) in Karnataka, a senior TML official said here Friday.

"If you look at the balance steel size, the project has to be done by someone with financial muscle," TML's chief financial officer Koushik Chatterjee said on the sidelines of its annual general meeting.

TML is an associate company of Tata Steel with the later holding 46.66 percent in the company.

This decision has been taken as the parent company has better financial strength.

Tata Metaliks in June signed a pact with Karnataka government for an integrated 3 million tonne steel project at Haveri district during the Global Investors Meet.

"The final configuration of the project and its size would be decided after carrying out a feasibility study," Chatterjee said.

  

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  • SUNIL RAJ BANNARY, MANGALORE/SAUDI

    Tue, Sep 28 2010

    IT's a pleasure to KANNADIGA's that such a enterprenuer enters our region.

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    SALUTE TO SHRI RATAN TATA

    A. The Tata Gesture

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