Iron producer, Tata Metaliks is planning for a 3-5 million tonne steel plant in Karnataka. Tata Metaliks posted a loss after tax of Rs 148.7 crore for the year ended March 31, 2009 and the company is not making any major investments this year.
The company is looking at a 900 acre allotment, sufficient for the planned capacity. The land allotment is yet to happen. The steel project is also subject to availability of iron ore mines. For a 3 mt unit, the ore required would be 250-300 million tonnes.
The company had planned a unit in West Bengal. However, the state government could not acquire land for the project, despite an assurance made in February 2005 by the chief minister.