Advertisement

HindustanTimes Thu,02 Oct 2014

Tata Steel shuts Odisha plant due to raw material crunch

Reuters  Bhubaneswar, August 09, 2014
First Published: 13:16 IST(9/8/2014) | Last Updated: 13:19 IST(9/8/2014)

India's Tata Steel Ltd has shut down one of its ferro alloys plants in the eastern Indian state of Odisha due to a raw material shortage linked to the suspension of a mining license, the company said in a statement late on Friday.

Tata Steel sourced ore for the 50,000 tonne-per-year Bamnipal plant from its captive chromite mine in Sukinda, operations of which were suspended in May.

The plant was run with available inventory before being shut on Aug. 4. The suspension of operations at Sukinda and Bamnipal would mean more than 6,000 job cuts, the company said.


Advertisement
more from Business

Mallya has to clear loan defaults to serve as USL chairman: Diageo

Loan default cases against Vijay Mallya and his UB Group may cast a shadow over his continuation as chairman of United Spirits Ltd in the future, with its current parent, UK-based Diageo, making it clear in a statement from its headquarters in London.

markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved