“If it is a transparent process, which it appears from the way the code has been drafted, we will evaluate and see. Our board has to be comfortable whether it is a good thing or not,” Koushik Chatterjee, group executive director (finance, corporate and Europe operations), Tata Steel, said in response to a question from Business Standard, on the sidelines of the annual general meeting of Tinplate Company of India.
However, Chatterjee said evaluating organic growth at its plants in Kalinganagar and Jamshedpur would be done first.
According to Chatterjee, organic expansion gives the company control over the product portfolio but in the case of acquisitions, one has to be content with what’s on offer.
“When you are looking at inorganic growth, it is already there and you have to see whether it fits or doesn’t fit. So let me see who the candidate is, and then I will be able to say whether it fits.”
The company has come up with a 3-million-tonne-per-annum (mtpa) plant in Kalinganagar and there is scope for scaling it up to 18-20 mtpa. The Jamshedpur facility has the capacity of 10 mtpa and will add another one million tonne.