The Odisha-based Neelachal Ispat Nigam Ltd (NINL) has begun operations nearly 90 days after being acquired by a Tata Steel subsidiary in a bidding process for Rs 120 billion, according to a statement released on Monday.

The plant, which has a capacity of 1.1 million tonnes of steel, has been closed for nearly two years for a variety of reasons. Tata Steel Long Products (TSLP), a Tata Steel subsidiary, announced in a statement that the blast furnace at its subsidiary NINL had been restarted just 90 days after the acquisition was completed on July 4, 2022.

"Given that the site had not been in operation for two years, we wanted to restart the furnace quickly, deploying and demonstrating Tata Steel's strong execution capabilities," said T V Narendran, Chairman of Tata Steel Long Products Ltd & NINL. Narendran, who is also the CEO and Managing Director of parent Tata Steel, stated that the focus is now on gradually ramping up production to rated capacity as planned.

Tata Steel intends to invest in the NINL site over the next few years to construct a dedicated 4.5 million tonnes per annum long products complex.

See also:
Tata Group firm TSLP completes purchase of Neelachal Ispat
Tata Steel to increase NINL operation to 1.1 million tonne in a year