The Hindu Business Line : Tata Steel to finalise S.African project after September

TATA Steel will finalise the investment details for its ferrochrome project in South Africa after September. The technology to be used has already been chosen and negotiations have begun for short-listing equipment suppliers.

Talking to newspersons here on Saturday , the Deputy Managing Director of Tata Iron and Steel Company (Tisco), Mr T.K. Mukherjee, said that the project would be finalised following completion of the ongoing "environmental impact study" in September. He added that the project cost could go up from the initial estimates because of "reasonable appreciation in land prices."

Mr Mukherjee said that the project for titanium dioxide mining in Tamil Nadu was well "on stream." On the acquisition of steel-making capacity abroad, he said no breakthrough had been achieved yet. "We are seriously looking for opportunities," he said.

Admitting that the efforts to acquire of steel-making capacity in Ukraine had suffered a setback, Mr Mukherjee said Tisco had not backed out of negotiations.