Tata Steel targets 15% growth in sales

Tata Steel targets 15% growth in sales Bangalore: Tata Steel Friday said it expects its sales to grow by 15 percent in the current fiscal compared to last year.

"Tata Steel has just implemented its 10 million tonne project in Jamshedpur that is in full swing. So I do see our sales to be up compared to last year by 15 percent," Tata Steel Vice Chairman B Muthuraman told reporters on the sidelines of CII (Chamber of Indian Industry) National Council Meeting here.

He said Tata Steel is implementing the Orissa project, which will be commissioned next year.
"This project will be of three million tonne capacity. Second phase will be another three million tonne and will get over in another two to three years," he added.

Muthuraman said, "Tata Steel has requested the Karnataka Government to start allotting fresh leases of iron-ore mines, especially for those who want to value add to the iron-ore by making steel, this will also provide employment opportunity to people."

Commenting on the overall business environment in the country, he said "it is difficult."