- June 19, 2023
Tata Steel sets FY24 capex at Rs 16,000 crore – Times of India
NEW DELHI: Industry giant Tata Steel is planning a consolidated capital expenditure (capex) of Rs 16,000 crore for its domestic and global operations during the current financial year, according to its top management.
Of the planned amount, Tata Steel has earmarked Rs10,000 crore towards standalone operations, the company’s CEO & MD T V Narendran and ED & CFO Koushik Chatterjee said.
Tata Steel had a planned capital expenditure of Rs 12,000 crore on its India and Europe operations during the previous fiscal 2022-23. Of this, Rs 8,500 crore was for India and rest for operations in Europe, Narendran had said in July last year.
In the UK, Tata Steel has had active and detailed discussions with the UK government in relation to the future of its business in that market.
Of the planned amount, Tata Steel has earmarked Rs10,000 crore towards standalone operations, the company’s CEO & MD T V Narendran and ED & CFO Koushik Chatterjee said.
Tata Steel had a planned capital expenditure of Rs 12,000 crore on its India and Europe operations during the previous fiscal 2022-23. Of this, Rs 8,500 crore was for India and rest for operations in Europe, Narendran had said in July last year.
In the UK, Tata Steel has had active and detailed discussions with the UK government in relation to the future of its business in that market.
Representative image.
