New Delhi, Dec 11: Tata Steel on Wednesday said that its board has approved the acquisition of a 50.01% stake in Odisha-based Thriveni Pellets Pvt Ltd (TPPL). The move is expected to strengthen Tata Steel’s raw material supply chain.

TPPL is the owner of Brahmani River Pellets Ltd (BRPL), which operates a 4-million-tonne-per-annum pellet plant in Jajpur, Odisha, along with a 212-kilometre slurry pipeline. The remaining 49.99% stake in TPPL is held by Lloyds Metals.

“Tata Steel today has also signed definitive agreements to acquire 50.01% stake in Thriveni Pellets Private Limited (TPPL),subject to regulatory approvals. TPPL owns 100% stake in Brahmani River Pellet Limited (BRPL), which operates a 4MTPApellet plant at Jajpur, Odisha along with a 212 Kilometer slurry pipeline. LMEL holds the balance 49.99% stake in TPPL,” said the company in a statement.

The company expects the transaction to be completed within the next three to four months, subject to regulatory approvals, including clearance from the Competition Commission of India.

Tata Steel also noted in its regulatory filing that the board has reaffirmed its long-term growth strategy for its India operations and reviewed several proposals aligned with prudent capital allocation and profitable expansion.

The company said it will prioritise investments in increasing production volumes, enhancing its downstream portfolio, and developing key mining assets and supporting infrastructure. It also plans to deploy low-carbon, capital-efficient technologies for future-ready steelmaking.

The Board has accorded in-principle approval for the 4.8 MTPA capacity expansion at NeelachalIspat Nigam Limited. This is Phase 1 of the capacity expansion in NINL and will enable Tata Steel to further expand the long products portfolio especially in the highly profitable retail space and capitalize on the growth of construction sector in India through new products and solutions.

As part of further enhancing the finished steel capacity in the flats products, the Board has approved the funds required to undertake the design and engineering work to set up of a 2.5 million tons Thin Slab Caster and Rolling facilities at Tata Steel Meramandaliand also progress on seeking all regulatory approvals for the expansion. This will expand the finished steel capacity particularly of thinner gauge products by 2.5 MTPA.