Tata Steel today reiterated that it is committed to implement two major infrastructure projects comprising Eastern-West corridors and international airport in Jamshedpur. Talking to the newsmen, company’s managing director TV Narendran said that the company is working on these projects to further enhance the infrastructure of the city.
“We are committed towards implementing these projects to ensure better transportation and communication.It may be mentioned that in view of the expansion plans of Tata Steel and other Tata Group companies in Jamshedpur, Tata Steel limited had engaged reputed consultant M/s l&T Rambole and M/s Consulting Engineering Services of Delhi to do a transport study of Jamshedpur.The study recommended construction of two corridors, the Eastern Corridor and the Western Corridor along with bridges on river Subernarekha and river Kharkai. To decongest the city roads further, it recommended increasing the width of the city roads, strengthening the sub-grade of roads, building new roads and parking areas in major markets such as Bistupur, Kadma and Sakchi.
Addressing the media, Narendran said that in the FY 15 the company will focus on infrastructure development and safety.Present on the occasion, Sunil Bhaskaran, vice-president, corporate services, Tata Steel, said that the work on Eastern Corridor is marching ahead and it is expected to be completed by August FY 15. The cost of these projects is around Rs 1,350 crores.
On the proposed international airport, Bhaskaran said that a total of 550 acres of land is required for the project. The company has acquired about 480 acres of land and is at the first stage of clearance from different Government departments.Narendran also informed that Tata Steel will start production from its greenfield plant at Kalinganagar in Odisha from the fourth quarter of next fiscal. “Right now the focus is on Kalinganagar project. It will start production from the fourth quarter of this fiscal,” he noted.
He went on to add that FY 15’s GDP forecast is 5-7 per cent. Steel demand grows by 1.2 to 1.3 per cent of the GDP growth. If the GDP growth is 5 per cent, we are expecting demand should grow by 6 per cent,” he said.
