Jharkhand CM praises investor-friendly Bengal
Jharkhand chief minister Hemant Soren, one of the special invitees at the 8th BGBS, showered praises on Bengal and also on chief minister Mamata Banerjee, the host.
Tatas have returned to Bengal with their steel plant in the temple town of Bankura that’s set to gear up commercial production, by the end of 2025-26 financial year.
Tata Steel Mining, a wholly-owned subsidiary of Tata Steel, a senior official said, had implemented a plan of Rs 780 crore after the approval by the National Company Law Tribunal’s Calcutta Bench in last two years, which helped the acquisition made through the insolvency and bankruptcy of three ferro chrome units for Rs 617 crore and one ferro alloy unit on 28 acre within the West Bengal Industrial Infrastructure Development Corporation in Bishnupur with an additional cost of Rs 164 cr in 2022.
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The company infused fresh capital, worth Rs 62.60 crore before commencement of production on last 1 August. Tatas have targeted to scale up production from annual 60,000 MT to 65,000 MT by the end of 2025-26 year, the company’s top officials told The Statesman in an official statement today.
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After total overhauling and refurbishment of the acquired plant, the Tatas initially had planned to convert the Bishnupur unit with an installed 0.1 million tonnes per annum crude steel production capacity of stainless steel and ferro chrome. The official said: “The plant will consume raw materials like iron scrap, sponge and pig iron.”
The new plant eventually is set to endure Tata Steel’s position stronger in the stainless steel and ferro chrome business together. The Tatas have converted the newly-acquired Bishnupur’s ferro alloy unit into a stainless steel manufacturing unit. The MD & CEO, Tata Steel, T V Narendran commented that their recent Bengal development would help the steel major to consolidate the company’s stainless steel business.
SDM, Bishnupur, Prosenjit Ghosh, said: “Two months back the top management officials of the Tatas had held a detailed inspection of the plant.” After the inspection, the plan for commercial production was designed, an official with the Bishnupur unit said.
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