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Tata Steel has decided to float JUSCO
In the increasingly competitive environment that the Company faces, it has become imperative that Tata Steel focuses on its core business i.e. the making and marketing of steel and allied products. For Tata Steel to be continuously involved in carrying out various unrelated functions, implies deviation of focus from its core activities and this may lead to operational inefficiency.
Keeping international best practices in mind, Tata Steel has decided to float a fully owned subsidiary company called, Jamshedpur Utility and Services Company Limited (JUSCO). JUSCO would gradually and in a phased manner take over activities that are not core to the business of Tata Steel. Such activities would thus be the new company's core competence and thus it is expected that JUSCO would be able to offer its services more economically and of a better quality. JUSCO would market its services to all industries in Jamshedpur and gradually spread its business outside Jamshedpur.
This is yet another example of Tata Steel keeping itself abreast of times.