"Over the next 6-12 months, there will be quite a lot of consolidation happening in the steel and mining sectors. We will be keenly reviewing options on how and what role we can play," group executive chairman Gupta told ET over the phone from the UK.
The company's export sales contributed to 58 per cent of total sales volume during this period.
Indian Railways is moving towards higher speed and axle load rails for which it required SAIL to produce R 260 grade and SAIL has started successfully producing the same.
"We are doing what can be done to be as lean and efficient as possible. It really is Tata Steel’s responsibility and we will do as much as possible to work out a solution from our end. We do not have a window to our promoter’s view on this,” said a top executive close to Tata Steel.
Tata Steel Mining Limited (TSML), formerly known as TS Alloys Ltd., has successfully completed execution of mining lease for Kamarda Chromite Mine and Saruabil Chromite Mine in Jajpur district in Odisha on June 26, 2020.
The enterprise value of the deal is over US $1 billion
The minister said a working group will be set up which will regularly monitor the steps being taken to enhance the steel usage. He asked the Webinar participants to come up with a few solid recommendations, which would be implemented.
The new plant was virtually inaugurated near Gobindgarh, Punjab by Dharmendra Pradhan, Union Minister of Steel, Petroleum & Natural Gas, along with Sunil Duggal, Group CEO-Vedanta Limited and Andrew Green – Executive Director, International Zinc Association, Global and other representatives.
While the company did not disclose its capacity utilisation in June, it had reported operating at a level of 83% of capacity in May this year, bouncing back from a lockdown-induced level of 38% in April.
VRL will make further public announcements at the appropriate time, the statement added.
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