TV Narendran, CEO & Managing Director of Tata Steel and TSLP chairman, said: “The acquisition is a historic achievement and a significant milestone towards building a dedicated long products facility for the Tata Steel Group. The completion of the transaction is a testimony to government of India’s focus on its disinvestment programme. The acquisition also reflects our commitment to Odisha and the communities around its operations. We are delighted to welcome NINL and its employees to our family.”
According to the statement, the long product segment in India is poised to witness significant growth as India builds its infrastructure through government’s Atmanirbhar Bharat programme along with the pick-up in the retail housing segment in semi-urban India.