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February 29, 2008 |
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TATA STEEL: Taps SMS Demag to Set Up Converter Shop, CSP Plant Tata Steel Ltd. has tapped SMS Demag Germany to provide the Indian steel firm with an X-Melt converter shop and a CSP plant, the Steel Guru said in its Web site. Commissioning of the plants is expected in late 2010. According to Steel Guru, the supply for the X-Melt steelworks includes two converter vessels as well as the gear units with pneumatic emergency drive, lance equipment and the converter lining facilities. The CSP plant is rated for an annual capacity of 2.4 million tonnes of hot strip 900mm to 1,680mm wide and 10mm to 20mm thick. Tata Steel, Steel Guru said, plans to use the CSP plant for focusing on high-grade products. Beside carbon steels, the product mix includes non-grain oriented electrical steel strip, pipe grades and dual phase steels, the Web site added. Headquartered in Mumbai, India, Tata Steel Limited -- http://www.tatasteel.com/ -- manufactures steel, and ferro alloys and minerals. Tata Steel's products are targeted at the auto sector and construction industry. With wire manufacturing facilities in India, Sri Lanka and Thailand, the company plans to emerge as a major global player in the wire business. As reported in the Troubled Company Reporter-Asia Pacific, Standard & Poor's Ratings Services, on July 10, 2007, lowered its corporate credit rating on Tata Steel to 'BB' from 'BBB.' The outlook is positive. The rating is removed from CreditWatch, where it was placed on Oct. 18, 2006, with negative implications after its announcement on acquiring Corus Group PLC (Corus, BB-/Stable/--). Moody's Investors Service, on Sept. 18, 2007, affirmed the Ba1 corporate family rating of Tata Steel Ltd., and changed the outlook to negative from stable. |
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