By IANS,
Kolkata : The capacity expansion work of Tata Steel’s Jamshedpur
plant in Jharkhand from five million tonnes per annum (mtpa) to seven mtpa
is ‘almost complete’, a top official of the Tata group said here Monday.
The capacity expansion work was scheduled to get over by 2008.
“The work for further capacity expansion from seven mtpa to 10 mtpa is going
full strength,” Tata Sons director J.J. Irani said at a seminar organised
here by the Indian Chamber of Commerce.
Tata Sons is the holding company of Tata Group that owns Tata Steel.
Talking about the global economic meltdown, Irani said it would not impact
much on India. “I don’t see the crisis hitting India the way it has hit the
western countries.”
“Indians don’t waste electricity, food and clothes like Americans and save a
lot, which has insulated them from high financial risk at this time.”
The present economic cycle is bound to turn in a year or two’s time, he
added.