Jan. 13, 2011 - It's reported that TATA Refractories Ltd plans to go ahead with its INR 180 crore greenfield capacity expansion at Vizag despite being unable to rope in a strategic partner.
Mr AK Chattopadhyay MD of TRL said that "We have decided to go ahead with our expansion plan at Vizag, even though there had been no development on inducting any strategic investor in the company. We will seek board approval some time in February.
He said that TATA Steel, which had little over 70% stake in the company, plans to induct a strategic partner which could have bring new technology and TRL would add 100,000 tonne speciality refractory capacity.
Mr Chattopadhyay said that "There will not be any problem in achieving financial closure for the new project and we will begin contruction early next fiscal.
Mr AK Chattopadhyay MD of TRL said that "We have decided to go ahead with our expansion plan at Vizag, even though there had been no development on inducting any strategic investor in the company. We will seek board approval some time in February.
He said that TATA Steel, which had little over 70% stake in the company, plans to induct a strategic partner which could have bring new technology and TRL would add 100,000 tonne speciality refractory capacity.
Mr Chattopadhyay said that "There will not be any problem in achieving financial closure for the new project and we will begin contruction early next fiscal.
