The Hindu : Business : Tata Steel looking at new technology

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Saturday, Sep 08, 2007
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Tata Steel looking at new technology

Special Correspondent

‘Steel prices may remain stable’

Will enable use of iron ore fines, coal
Eyeing mines abroad

KOLKATA: Tata Steel Managing Director, B. Muthuraman, indicated here on Friday that the company may be trying out a new technology which was being developed by Corus. He also said that work on Tata Steel’s new vision statement which would cover the period till 2015 was likely to be completed by December 2007.

Interacting with the press here after giving a talk on acquiring ‘a global mindset,’ he said the new technology would result in cost savings by enabling the use of iron ore fines and coal instead of coke.

Mr. Muthuraman, who was here in connection with the national management convention organised by the All India Management Association, said that the new technology, which would have to be converted from the laboratory to the semi-commercial stage, might be ready in a couple of years and used in Tata Steel’s greenfield projects.

To a question on steel prices, he said prices were likely to remain stable for the next two to three years, although there might be small fluctuations on a weekly or monthly basis.

He, however, said that input costs had been impacted by the increased price of iron ore, coal and ocean freight. He expected Tata Steel, on a standalone basis, to improve its margins. On acquisition of mines, he said the company had its coal mines and was looking at acquisitions abroad.

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