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Kolkata , Jan 12

Even as Tata Steel expects its saleable steel production to touch five million tonnes by the end of the current fiscal, the steel major is hopeful that its domestic steel output will go up to seven million tonnes by 2008-09, according to Dr T. Mukherjee, Deputy Managing Director.

Speaking to newspersons on the sidelines of a workshop on `Steel in Construction,' organised today by the Institute for Steel Development & Growth, Dr Mukherjee said that Tata Steel's production was slated to go up from five million tonnes currently to seven million tonnes and 10 million tonnes by 2008-09 and 2009-10 respectively.

Last week, the company reported 11 per cent rise in saleable steel production for the first nine months of the current fiscal, compared with the corresponding previous period.

According to him, Tata Steel is on the lookout for acquisition of iron ore mines, both in India and abroad.Dr Mukherjee said that steel prices - of both long and flat products - are expected to remain stable over the next three months. Steel demand in India would go up by four million tonnes if the economy grows a rate of eight per cent a year, he added.

More Stories on : Outlook | Steel | Tata Steel Ltd

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