Tata Steel capex likely to touch 9,000cr in FY20
Tata Steel Ltd is expecting its capex during the current fiscal to touch the Rs 9,000-crore mark, company sources said. The steel major, however, will take a cautious approach at the capital allocation for the next financial year, they said. The steel maker had, earlier, said that it would revise the planned capital expenditure for the 2019-20 to Rs 8,000 crore from Rs 12,000 crore for the group. In the third quarter, company had spent about Rs 2,777 crore, taking the total capital expenditure to Rs 7,762 crore during the first nine months of the current fiscal, sources said. The company had invested around Rs 1,367 crore for its India operation, including about Rs 935 crore expenditure for its Kalinganagar plant in Odisha, they said.