Tata Iron and Steel Company Limited

completed

Tata Iron & Steel Company Limited (Tisco or the company), a former IFC portfolio company, is one of the world’s leading steel manufacturers. Tisco’s strategy is to drive growth and globalization by maximizing the potential of its existing operations; and enhancing value creation by making semi-finished products (slabs/billets) - primarily in India, where raw materials are available and factors of production are competitive - and then finishing them at locations, including outside India, where customers and markets currently exist or will grow in future. In order to achieve its strategy, Tisco proposes to implement a major investment program and has approached IFC for providing funding in the form of long term dollar loans. The proposed program involves a capacity expansion at existing operations in Jamshedpur by replacing older production units, and the acquisition of NatSteel (a Singapore headquartered steel company with operations in Singapore, China, Vietnam, Thailand, Malaysia, Philippines and Australia). Tata Steel is conscious of upgrading environmental facilities and investment in community development projects in normal course of business.