Tata Steel shares gain over 1% after commissioning largest blast furnace

Shares of Tata group's steel making company rose in Monday's session after the company commissioned the largest blast furnace at Kalinganagar.

At the day's high, the stock zoomed 1.5 per cent at Rs 154.3, while at the last count the stock of Tata Steel was up over 1 per cent at Rs 153.6 apiece on the BSE.

The company in an filing after market hours on Friday said, "Tata Steel today successfully commissioned India’s largest blast furnace at Kalinganagar, Odisha. With a total investment of Rs 27,000 crore, the Phase II expansion at Kalinganagar will take the total capacity at the site from 3 million tonnes per annum (MTPA) to 8 MTPA. The new facility was inaugurated by T. V. Narendran, CEO and Managing Director, Tata Steel, in the presence of senior leaders of the company."

The new blast furnace will significantly boost the plant's overall production capabilities, allowing Tata Steel to meet the growing demands of various industries, including automotive, infrastructure, power, shipbuilding, and
defence. It will also provide advantages in specific areas like oil & gas, lifting & excavation, and construction.

With the Phase II expansion, Odisha has emerged as the largest investment destination in India for Tata Steel, with a total cumulated investment of over Rs 100,000 crore in the last 10 years.

On this occasion, T. V. Narendran, CEO and Managing Director, Tata Steel, said: "The commissioning of India’s largest blast furnace at Kalinganagar is a momentous occasion for the steel industry, setting new
benchmarks in capacity, technology, and sustainability. A key enabler of socio-economic development in the region, the expansion not only strengthens Tata Steel's position as a leader in high-end, value-added steel
segments but also showcases our advanced engineering prowess. It underscores our commitment to boosting private investment in India, aligning with the nation's vision for self-reliance and sustainable industrial growth.

On behalf of Tata Steel, I thank the Government of Odisha for their unwavering support and applaud thecollective efforts of our employees, suppliers & vendor partners, and all other stakeholders in enabling this
significant milestone.”The new blast furnace, with a volume of 5,870 m3, is equipped with state-of-the-art features for long campaign life and an eco-friendly design to optimise the steelmaking process. This blast furnace will utilise four top combustion stoves, a first in India, along with two preheating stoves for optimum specific fuel consumption in hot metal production. In a first for Tata Steel, a dry gas cleaning plant has been installed to maximise energy recovery from by-product gas. The world’s largest Top Gas Recovery Turbine (TRT) of 35 MW power generation capacity will help with the recovery of an additional 10% of energy.