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By Our Staff Reporter
KOLKATA. APRIL 5. Tata Steel managing director, B. Muthuraman, today said the company was considering expansion of its Jamshedpur plant and venturing out for new businesses. The final decision in this regard was yet to be taken. The company had also adopted a four year plan to create positive shareholder value. Addressing the annual press conference here today, Mr. Muthuraman ruled out any further greenfield venture in steel in the foreseeable future. The company had shelved the Gopalpur project after spending Rs. 130 crores mainly on rehabilitation. "We will now help facilitate the Orissa Government to promote a special economic zone (SEZ)" at the site. Expansion of Jamshedpur plant was "one of the various growth options" planned to protect long term interest of the company. "We are now looking at every possible aspect related to it. A final decision in this regard will be taken in the next 3-4 months," he said. As the steel industry is not giving returns on investment, the company is also toying with various ideas to venture into new businesses. Denying to divulge further details in this context, he ruled out investments in the telecom sector. "Tata Steel will not make any investment in telecom," he confirmed. The proposed Rs. 250 crore ferrochrome project in South Africa is awaiting clearance of the respective governments. The proposed titanium mining project in Andhra Pradesh and Tamil Nadu is yet to be cleared by the government. About the company's physical performance in the last fiscal, Mr. Muthuraman said for the first time, Tata Steel had taken an attempt to brand steel products. Relaunched TISCON and enhanced stress on Tata Shakti, the company expects branded products to contribute 10 per cent of total sales in this fiscal. The company recorded 4 per cent higher sales at 3.56 million tonnes in 2001-02 while the whole industry went for a downswing. During the last fiscal, the company had further enhanced its production of hot metal by 3 per cent to 4.04 million tonnes without any capacity addition.
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