Tata Steel to Invest Rs 1,200 Crore On New Technology

Tata Steel is going to invest Rs 1,200 crore on new technology development over the next four years. Let us tell you that Tata Steel is a leading global producer of Graphene Enriched Products. It is number one in the country. With this, the company is ranked 10th in this case in the world. Keeping this reputation, Tata Steel Limited is going to bet big on the development of new technology in the next three to four years.

The company plans to invest around Rs 1,200 crore as part of its endeavor to move away from steel to some other material sector. A top official of the company has given this information. In the new material business, the steel giant is focusing on 'graphene', which can be mixed with plastics and refurbished into new products, among other features, the official said. 

In this regard, Devashish Bhattacharya, Vice President, Technology and New Materials Business, told PTI that as far as the business of new materials is concerned, the total technology development expenditure including production in the next three to four years is about Rs 1,200 crore. . He said that we realized that we can do something different apart from steel.