JAMSHEDPUR, June 16: Tata Steel Managing Director H M Nerurkar today claimed that despite the economic slowdown the company’s ongoing projects would be completed either in time or even before schedule.
Mr Nerurkar told reporters here on the sidelines of a felicitation function that the production and sales of his company were as per the maximum capacity despite the general downward trend in the economy.
“The effects of slowdown is visible everywhere. Economic growth is not good particularly in last two months. But due to our better product quality and delivery mechanism we are not feeling the heat of slowdown as yet and are still at our maximum level of production and sales. Even if we are affected we would be last one to feel the heat,” he said.
His chairman had commanded him to complete the ongoing projects as soon as possible even before schedule, he added.
To a query regarding Standard and Poor’s lowering of the India’s credit rating, Mr Nerurkar said it would affect us as the borrowing rates would go up. Regarding Euro Zone crisis he said it was affecting everybody.
The ambitious capacity expansion project of Tata Steel’s sole operational Indian plant here from 6.8 MTPA to around 10 MTPA is in the last stages while it is expected to expedite its two phased six MTPA greenfield steel plant project in Kalinganagar in Odisha soon after the completion of expansion.
The mega greenfield project in Saraikela-Kharsawan district of Jharkhand and Jagdalpur in Bustar region of Chhattisgarh are seemingly in dormant stages at present due to land acquisition issues, he said.
(UNI)
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