The Indian steel industry is struggling against a surge of cheap imports, mainly from China and Vietnam, prompting government discussions and considerations for protective measures.
On July 4, 2022, Tata Steel completed the acquisition of Odisha-based Neelachal Ispat Nigam Ltd (NINL) the first state-owned steel company to be divested by the Narendra Modi-led government through its erstwhile subsidiary Tata Steel Long Products (TSLP) for a consideration of Rs 12,100 crore.
The company will boost capacity at its recently acquired Neelachal Ispat Nigam Ltd (NINL) to 5.5 million tonnes per annum (mtpa) from the present 1 mtpa, said Ashish Anupam, vice-president, long products at Tata Steel.