Tata Steel – Global Wires India wants to expand capacity to 8 lakh tonne and targets a market share of 23 percent by 2025.
October 17, 2019
Tata Steel plans to more than double current capacity at its wires unit in India by 2025, in line with its overall roadmap to also grow its steelmaking volume.
As reported in a leading daily, the Tata Steel – Global Wires India, at present produces four lakh tonne of wires across its three units in the country. These units are present in Tarapore, Indore and Jamshedpur.
The company now wants to increase capacity to 8 lakh tonne by 2025.
“As we expand capacity, we also want to increase our market share in the country to 23 percent by 2025 from the present 14 percent,” said Satish Walekar, Head Manufacturing, Auto and Allied Products, Tata Steel – Global Wires India.
The wires are used across sectors such as auto, infrastructure and power. The Tata Steel unit has leadership position individually in these sectors.
“About 44 percent of our production goes into the retail sector; auto: 24 percent, infrastructure: 28 percent and power: four percent,” Damodar Pohuja, Head Maintenance, WRM, Tata Steel – Global Wires India, said.
While the company is looking to organically expand its capacity, it is also looking out for inorganic opportunities.
Apart from India, the entity also has units in Thailand, taking its total capacity to 6.7 lakh tonne a year.
The growth plan for the wires unit complements Tata Steel’s overall capacity enhancement strategy. By 2025, the company wants to grow to 30 million tonne from 18.5 million tonne a year at present.
