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NINL s 1-million-tonne plant at Kalinganagar in Odisha is currently less efficient as compared to other steel-producing locations within the group, and the company is looking to align its efficiency with the rest, Ashish Anupam, vice president for long products at Tata Steel, told ET in an interaction. "While we have started production, there are a lot of areas where cost efficiencies are yet to be taken out, and that is what the team is driving now," Anupam said.
Tata Steel, Fitch said, would replace its blast furnaces with more cost-efficient and environment-friendly electric arc furnace (EAF)-based steelmaking capacity.
The upgrade is a result of the revision in Tata Steel s Standalone Credit Profile (SCP) from bb to bb+ due to reduced uncertainty and decreased financial risk associated with its UK operations.