Tata Iron & Steel Co (Tisco) has set for itself a target of producing 15 million tonne (mt) of steel by the year 2010, a huge increase on its present output of around four million tonne of saleable steel.
While announcing this new goal, B Muthuraman, managing director, Tisco, also hinted that some of the new capacity could come up abroad. However, he declined to comment if this will be via acquisitions or own projects.
Mr Muthuraman, speaking at an informal press meet here Thursday, said 2004 was going to be “a very historic year” for the company. He pointed out that 2004 happens to be the birth centenary year of the legendary JRD Tata, the birth centenary of Naval Tata (father of Ratan Tata, chairman, Tisco) and also the death centenary of Jamsetji Nusserwanji Tata, founder, Tisco. “For both, this company (Tisco) and for the town it is going to be an historic year,” he said. “Tisco, you will know in the next 3-4 months, is on to another record year in terms of an outstanding business performance, where it will end up with record profits, the highest-ever recorded,” said Mr Muthuraman.
SOURCE:http://www.financialexpress.com/news/
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