Construction Industry News
According to top management, global industrial giant Tata Steel expects to spend 160,000 million on capital projects (capex) for both domestic and international operations in the current financial year.
According to the CEO & MD T V Narendran and Executive Director & CFO Koushik Chatterjee, Tata Steel has set aside 100,000 million of the expected amount for standalone operations and 20,000 million for its Indian subsidiaries.
According to the executives' statement in the company's annual report for 2022-23: "The expected capital expenditures (capex) for FY2023-24 are set at Rs 160,000 million on a consolidated basis and are intended to be funded by internal accruals during the full year."
According to them, 100,000 million of that will go to Tata Steel Standalone operations, of which the Kalinganagar project will make up about 70%.
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