Tata Steel Board Affirms Long-term Strategy for Growth in India, Approves $636 Crore Acquisition of Thriveni Pellets

Tata Steel Ltd. announced its long-term growth strategy for the India business, focusing on volume growth, value-added downstream portfolio, identified mining assets, and low carbon steel-making technologies. The Board approved a 4.8 MTPA capacity expansion at Neelachal Ispat Nigam Limited, a 2.5 MTPA Thin Slab Caster and Rolling facilities at Tata Steel Meramandali, and a Hot Rolled Pickling and Galvanizing Line at Tarapur. The company also signed an MoU with Lloyd Metals & Energy Ltd for iron ore mining, logistics, pellet, and steel-making in Gadchiroli, Maharashtra. Additionally, Tata Steel agreed to acquire 50.01% stake in Thriveni Pellets Private Limited, subject to regulatory approvals.