TATA

Jamshedpur: Tata Steel, today, was awarded the SA8000 certification for the third time, thereby reaffirming its position as a socially responsible corporate body. The Social Accountability-8000 Management System Certificate was awarded by the Norwegian Det Norske Veritas (DNV) foundation to Tata Steel for complying with best practices of management for three years. Tata Steel has gone through three cycles of certification, in 2004, 2007 and now in 2010.

TATA Steel and the citizens of Jamshedpur came forward to pay tribute to the legendary Sir Dorabji Tata on the eve of his 151st birth anniversary and remember the priceless contribution towards the set up of the steel plant and the city of Jamshedpur.

Jamshedpur (Jharkhand), Aug 27 (PTI) Tata Steel Managing Director H M Nerurkar today said the private steel major was working to set up a hockey academy here on the line of football, archery and athletics academies."Tata Steel is committed to promote sports in the country.

Tata Steel's domestic manufacturing capacity is set to jump three-fold to 21 MTPA following the expansion at its Jamshedpur facility and as the Orissa and Chhatisgarh greenfield units go operational. Tata Steel's current manufacturing capacity stands at 7MTPA.

"After completion of the 3-mt expansion project at Jamshedpur, the company's steel manufacturing capacity in Indian operations will enhance to 10 mtpa by 2012," Tata Steel's chairman Ratan Tata said at the annual general meeting in Mumbai.

After waiting for over a year, Tata Steel has finally been given the working permission for an iron-ore mine in Ankua, Jharkhand, group chief financial officer Koushik Chatterjee said.
The total area of the mine is 1800 hectares and it is said to be holding about 400 million tonne of iron-ore.

Tata Steel said that it had received prospecting licence from the central government last year, but to begin exploration work, it needed the state government’s working permission, which it has received now.

Myanmar’s military ruler General Than Shwe visited Jharkhand’s steel city of Jamshedpur and inspected the TATA Motors plant there.

According to sources, General Than Shwe’s visit was related to collaboration between TATA Motors and Myanmar Automobiles and Diesel Industries, a government of Myanmar undertaking, for setting up a plant at Magwe in Myanmar.

According to sources, General Than Shwe was accompanied by a delegation comprising Minister of National Planning and Economic Development.

The plant is likely to become functional by the end of the current financial year.

As Myanmar’s military ruler General Than Shwe visits steel city Jamshedpur in Jharkhand on Wednesday, India’s largest vehicle manufacturer Tata Motors is inching towards beginning production of heavy duty trucks in Myanmar.

While the Myanmar Automobile and Diesel Industries, a Government of Myanmar enterprise, had inked a turnkey deal on March 1, 2009 with the Tata Motors. The company is hopeful of starting production of trucks before the end of 2010-2011 fiscal. Tata Motors will initially produce 1,000 heavy-duty trucks annually at its Myanmar plant.

In an exclusive interview with CNBC-TV18 Koushik Chatterjee, the group CFO of Tata Steel said the steel prices were now significantly higher than it was last year, however, he sees a seasonal slowdown in August and expects iron ore prices to soften further.

Steel demand in Europe had fallen significantly due to the Euro crisis but demand now is reviving and is much better than it was six months back as the Euro zone is regaining business confidence, Chatterjee said.

Koushik Chatterjee, Group CFO, Tata Steel

It is reported that Steel Strips Wheels Ltd has set up a manufacturing plant for supplying parts to leading auto majors. The plant the third one by the group after Chennai and Chandigarh was inaugurated by the Mr Hemant M Nerurkar MD of TATA Steel at Govindpur in Jamshedpur near the TATA Motors plant.

Mr Dheeraj Garg group MD said the unit set up at a cost of INR 140 crore over 9 acres of land near TATA Motors the plant will have an initial production capacity of 1 million wheel rims which will be upgraded to 2 million in mid 2011.

Tata Steel plans to raise around $2 billion by issuing fresh equity over the next quarter to finance its expansion projects in India and abroad.

Bankers familiar with the development told Financial Chronicle that the company had sounded out investment banks to finalise a lead arranger for the offering.