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The first half of calendar year 2019 will be a strong period for the steel industry globally, said TV Narendran, managing director of Tata Steel, adding that "apart from some concern on trade flows, the fundamentals are strong and growth in China, India, US and Europe is good".
"Do not see any fundamental change in demand growth across the world," he said.
Talking about the expansion plans of Tata Steel, he said in long products the firm would look at inorganic growth opportunities. “In Kalinganagr, we have opportunity to expand through brownfield and similarly, in Jamshedpur we can unlock some volumes through brownfield expansion,” he said.
As of now, the company is totally focused on Usha Martin and aims to complete the transaction in next few months, said Narendran.
Bhushan Steel is a good asset, which was operating at 3.5-3.6 million tonnes a year and this year it would cross 4.2 million tonnes in production, said Narendran, adding that the firm aims to take the production to 5-5.5 million tonnes in next 24 months.
According to him, the company has been able to improve the EBITDA per tonne and cash flows of the Bhushan asset.Talking about the overall capacity of the company, he said it has a clear road map that takes it to 25 million tonnes.