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Shri Naveen Patnaik, Hon’ble Odisha CM, lays foundation stone for Subarnarekha Port

Bhubaneswar, February 13, 2019

The Hon’ble Chief Minister of Odisha, Shri Naveen Patnaik, today laid the foundation stone for Subarnarekha Port located in Balasore district of the State.

The foundation stone was laid in the presence of Tata Steel CEO & Managing Director Mr. T.V. Narendran. Also present on the occasion were Mr. Dibyendu Bose, Group Director, Investments & New Ventures, Tata Steel and Mr. Chanakya Chaudhary, Vice-President, Corporate Services, Tata Steel.

Subarnarekha Port will be developed as an all-weather, deep-draft seaport south of the mouth of Subarnarekha River.

“Subarnarekha Port will be an important port for this region. It has a high potential for the industries located in the region,” said Mr. T.V. Narendran, CEO & Managing Director, Tata Steel.

The port development is envisaged through Subarnarekha Port Private Limited (SPPL), a subsidiary of Creative Port Development Private Limited (CPDPL). Tata Steel holds 51 per cent stake in Creative Port Development Private Limited, which had executed a 34 years Concession Agreement with Government of Odisha in 2008 to develop and operate the Subarnarekha Port.

About Tata Steel
Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 33 million tonnes per annum (MTPA). It is one of the world's most geographically-diversified steel producers, with operations and commercial presence across the world. The Group recorded a consolidated turnover of US $20.41 billion (INR 133,016 crore) in FY18. In 2018, Tata Steel acquired Bhushan Steel Ltd (now renamed as Tata Steel BSL Ltd). Currently, Tata Steel's consolidated India crude steel production capacity stands at 18.6 MnTPA.

A Great Place to Work-CertifiedTM organisation, Tata Steel Ltd., together with its subsidiaries, associates and joint ventures, is spread across five continents with an employee base of over 65,000.

Tata Steel retained Industry Leader position in FY18 and ranked second overall in the DJSI assessment, 2017. The Company has been recognised as the Climate Disclosure Leader in ‘Steel category’ by CDP (2017). Besides being a member of the World Steel Climate Action Programme, Tata Steel has won several awards including the Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, ‘Corporate Strategy Award’ by Mint (2018), Golden Peacock Award for Risk Management 2018 and Best Risk Management Framework & Systems Award 2019 by CNBC TV18. The Company also received the ‘Most Ethical Company’ award from Ethisphere Institute for the sixth time (2018), Steel Sustainability Champions (2017) by the World Steel Association, Dun & Bradstreet Corporate Awards (2017 & 2018), Golden Peacock HR Excellence Award by Institute of Directors (2017 & 2018) as well as 'Asia's Best Integrated Report' award by the Asia Sustainability Reporting Awards (2017), among several others.

In 2018, the Company launched a corporate brand campaign #WeAlsoMakeTomorrow.

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Statements in this press release describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors.