Tata Steel signs an MOU with Govt. of Tamil Nadu
Tata Steel pioneered the steel industry of India, way back in 1907. Today, it is one of the most modern integrated steel plants in the world having up-to-date technology and facilities and customer friendly business processes and systems. It is the only integrated steel plant in the world with the ISO 14001 certificate for environmental protection. A recent World Steel Dynamics report has placed Tata Steel as the third most competitive steel company in the world. It outperforms all steel companies in India and most steel companies in the world.
Tata Steel has a Vision of becoming an EVA positive company and to continue to improve the quality of life of its employees and the communities it serves.
Tata Steel has been on the lookout for growth opportunities, primarily in the Metals and Minerals sector. As a part of this growth initiative, it is looking at the possibility of utilising the mineral sands of India and create value through manufacture of Titanium Dioxide and, at an appropriate time, through Titanium metal. With this objective, Tata Steel signed a Memorandum of Understanding with the Government of Tamil Nadu on Thursday, 27 June 2002. Tata Steel will undertake a techno-economic feasibility study with the mineral sands available in Tamil Nadu and subject to technical and commercial feasibility plans to create a Titanium Dioxide manufacturing facility in stages.
The MOU was signed in the presence of the Hon'ble Chief Minister of Tamil Nadu Ms Jayalalitha by Mr. B. Muthuraman, Managing Director of Tata Steel and Mr. Arun Ramanathan, IAS, Secretary to Government of Tamil Nadu, Industries Department.