Tata Steel recently completed the acquisition of NINL through the subsidiary company Tata Steel Long Products (TSLP) for a consideration of Rs 12,000 crore. When asked about its plans with the steel mill, the CEO and MD T V Narendran voiced its aim of restarting the 1 MT steel mill in the next three months.
Tata Steel’s next move will be to take ownership of NINL and work hard with employees and other stakeholders to realise the asset’s full potential, Narendran said.
“We are ready to work with existing employees and restart the plant, which has been closed for almost two years. We hope to start the production in the next three months and ramp up to the rated capacity over the next 12 months,” the top official said.
Besides 1 MT steel mill, NINL has its captive power plant to meet the internal power requirement and an air separation unit for producing Oxygen, Nitrogen and Argon.
It also has its own captive iron ore mines under development.
The acquisition of NINL was critical for Tata Steel to build a dedicated long-products complex.