Tata Steel rules out joint ventures in India, bets on solo expansion for better control
Mumbai, May 19 -- Tata Steel Ltd will add capacity on its own in the Indian market as opposed to striking joint ventures, the company's top management said, taking a divergent route from its larger domestic peer JSW Steel Ltd.
Asia's oldest steelmaker prefers to have complete control over its operations in its home market, Tata Steel managing director T.V. Narendran said in an interview. In fact, the company was looking to buy out its existing joint venture partners wherever possible to merge all steelmaking operations under one company, he said.
"We've gone down that path in the past, and our own view is that in our home market, we would rather do things ourselves because this is the most attractive market in the world," said Narendran...
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