Tata's steel output rose 35 percent to 16.79 million tonnes in the last fiscal and Bhushan Steel added 4.2 million tons to the overall value
New Delhi: Buoyed by its latest acquisition of Bhushan Steel Ltd assets, Tata Steel has posted a record-high steel output in the financial year that ended on March 31 (2018-19). Its steel output rose 35 percent to 16.79 million tonnes in the last fiscal and Bhushan Steel added 4.2 million tons to the overall value.
This makes Tata potentially the biggest steel producer in India.
Tata Steel output higher than Jindal Steel's target
The production recorded by Tata Steel is a tad bit higher than what was targeted by Jindal Steel for the last fiscal: 16.75 million tonnes. Jindal Steel was the country's biggest steel mill in the previous fiscal year (2017-18) and is yet to release the figures for FY 2018-19.
Off late, Tata Steel has been increasingly shifting its focus to India where demand is growing as the government places more emphasis on building new infrastructure.
Even as Tata Steel's India unit posted record-high steel production, Tata's Europe division saw its output falling by 3.7 percent to 10.3 million tonnes during the 12 months to March, the company said. The European Commission has been reviewing a plan by Tatas to merge its business with that of Thyssenkrupp AG.