Tata Steel to start its project at Richard's Bay
Land for the project allocated; commercial production to begin by the end of the year 2007.india Updated: Aug 14, 2006 15:55 IST
Tata Steel's ferro chrome project at Richard's Bay in South Africa is all set to start off soon.
The allocation of land for the project is complete. The groundbreaking ceremony is planned during the second half of August, Tata Steel's executive in charge (ferro alloys and minerals) P Roy told reporters in Kolkata on Monday.
Commercial production of the project is scheduled to start by October-December 2007, Roy said.
Tata Steel is also looking at mining projects in South Africa.
"We are examining mining opportunities in manganese, coal and chrome," Roy stated.
The greenfield project would require an investment of $120 million.
Environmental clearance for this 135 million tonne capacity project has already been received from South African government.
Tata Steel is teaming up with Tata Group's holding company in South Africa, Tata Africa, in 90:10 ratio, for the project.