Kolkata: Tata Steel Ltd is closely following the insolvency resolution process initiated by banks against embattled steelmakers for inorganic growth opportunities, a top executive said on Tuesday. “There are huge organic (growth) opportunities,” Chatterjee said on Tuesday on the sidelines of the annual general meeting of Tinplate Co. of India Ltd, of which he is chairman. Inorganic growth opportunities arising out of insolvency resolution will be weighed against organic opportunities at Kalinganagar and Jamshedpur, he added. Between the two units, Tata Steel can scale up production capacity to 25-30mt, Narendran had said. Steelmakers such as Tata Steel and JSW Steel Ltd are seeing dispute resolution under the Insolvency and Bankruptcy Code as an opportunity to acquire stressed assets cheap.

Source: Mint July 25, 2017 22:01 UTC