CONF: Tata Steel committed to India-focussed development

Mumbai-headquartered Tata Steel will remain committed to divesting itself of its overseas businesses and shifting its focus back to its home country of India for steel capacity expansion, according to Rajiv Mangal, president and ceo of Tata Steel Thailand.

This is despite the fact that its earlier pact with China’s Hebei Iron & Steel Group to sell 70% of its ASEAN businesses (other than its Thai plant) failed to materialize due to the disapproval of the Chinese authorities, Mangal confirmed on August 27 when answering Mysteel Global’s question at SteelMint’s 4th Steel