Tata Steel India has achieved its highest-ever annual production in the financial year 2022-23. The company announced on Friday that it had produced 22.61 million tonnes of steel in the fiscal year, marking a growth of 19% compared to the previous fiscal year.
T.V. Narendran, CEO and MD of Tata Steel, said, “We are pleased to announce that we have achieved our highest-ever annual production in FY23. This is a testament to our commitment to sustainable growth, and our continued efforts to improve our operations and enhance our product offerings.”
He added, “We will continue to invest in our operations and focus on innovation to ensure that we remain a leading player in the steel industry.”
Tata Steel India is one of the leading steel producers in the country, with a wide range of products catering to various industries such as automotive, construction, and infrastructure. The company has been on an upward trajectory in recent years, with a focus on sustainability and technological advancements.
The company’s production growth has been driven by various factors, including increased demand from domestic and global markets, operational efficiencies, and capacity expansions. Tata Steel’s steel-making facilities in India are spread across various locations, including Jamshedpur, Kalinganagar, and Dhenkanal.
The company’s Jamshedpur plant, which is the oldest and largest of its facilities, produces a wide range of steel products, including hot-rolled coils, cold-rolled coils, and galvanized sheets. The plant has undergone various modernization and expansion initiatives in recent years to enhance its production capacity and product quality.
Tata Steel’s Kalinganagar plant, which was commissioned in 2016, is one of the most modern steel plants in India, with a capacity of 8 million tonnes per annum. The plant produces a range of products, including hot-rolled coils, cold-rolled coils, and galvanized sheets, among others.
The company’s Dhenkanal plant, which is located in the eastern state of Odisha, has a capacity of 0.5 million tonnes per annum and produces ferro-chrome. The plant has been recently modernized to improve its operational efficiency and reduce its environmental footprint.
Tata Steel has been focusing on sustainability and reducing its carbon footprint in recent years. The company has set an ambitious target of reducing its carbon emissions by 50% by 2030 and achieving carbon neutrality by 2050.
To achieve these targets, Tata Steel has been investing in various initiatives, including renewable energy, energy efficiency, and green steel technologies. The company has also been working closely with its suppliers and customers to adopt sustainable practices across its supply chain.
The company’s commitment to sustainability has been recognized by various international organizations, including the Carbon Disclosure Project and the Dow Jones Sustainability Indices, which have ranked Tata Steel as one of the leading sustainable steel producers in the world. In addition, Tata Steel has signed up to the Global Compact initiative and is a member of the World Economic Forum’s Global Competitiveness Council.
The company also works closely with local communities through its many projects such as clean water initiatives, education campaigns, and other sustainable development activities. We are proud of our commitment to sustainability and are constantly striving to find new and innovative ways to reduce our environmental footprint.
Tata Steel’s achievement of its highest-ever annual production in FY23 is a significant milestone for the company, and it reflects its commitment to sustainable growth and operational excellence. The company’s focus on innovation and sustainability will continue to drive its growth in the coming years, as it aims to remain a leading player in the steel industry. Tata Steel is also investing in digital technologies to improve its operations, increase efficiency, and reduce costs. The company is committed to helping India become a global leader in steel production and plans to invest more than $1billion in the next five years for capacity expansion and technological advancements.
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