12
Aug
13:14
Tata Steel to cut capital expenditure this year
Tata Steel has confirmed it will cut capital expenditure this year by some 25% from its original plan. As a result the company plans to invest INR 8,000 crore ($1.1 billion).
Due to the need to reduce capex, the company confirmed the intention to prioritise investments, but noted that the planned expansion of the Odisha steel plant will go ahead.
In addition to reducing capex on the back of the steel market demand slump, the company is also looking to simplif…
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Anonymous
Very good overview of the weekly steel market.
Anonymous