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September, 2006 Pragati Maidan, New Delhi, India |
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Tinplate Announces Expansion Plan
To invest Rs 210 cr in new capacity
Tinplate Company of India Limited (TCIL), wholly owned subsidiary of Tata Steel, will put in Rs 210 crore in setting up new facilities at Jamshedpur. This expansion plan is expected to be completed by 2008 and will add another two-lakh tonne tinning capacity. TCIL's current capacity at Jamshedpur is 1.8 lakh tonne.
Bhusen Raina, TCIL Managing Director, said that the board has approved the investment proposal, adding that funding would be through a mixture of debt and internal accruals.
The company aspires to move up the value chain by providing cost effective, innovative and consumer convenient packaging solutions for edibles.
Raina said the company has been able to write off the accumulated losses in the 2004-05 and TCIL has been making profits since then.
IIM-Ahmedabad has prepared a case study on the turnaround of TCIL to use it as part of the curriculum.
Date: 27-Apr-2006
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