Tata Steel's Odisha project on track

KOLKATA: Country's steel major Tata Steel today said its 6 million tonne Odisha steel project is on track and the first phase of project is expected to commission by January-March quarter of 2014-15.

"The work is progressing well. We are on schedule with the construction work at the plant. We should start production by the fourth quarter (Jan-Mar) of the current fiscal," Tata Steel India Managing Director T V Narendran said at the CII-Suresh Neotia organised Leader's Speak event here.

The plant, situated at Kalinganagar, is divided into two units of 3 million tonnes each and will produce flat steel products for the automobile industry.

Narendran said he remains optamistic but steel demand was linked to GDP growth.

Declining to specify any details he expects steel prices to remain firm.