The acquisition of $ 290mn Singapore-based NatSteel by Tata Steel, is India's 2nd largest oversees acquisition. The man driving this global foray,
B Muthuraman, Managing Director, Tata Steel [BM Evening, 75batch], explained: ""Every bit of the value chain has a cost attached to it. We have to put the right part of the value chain in its right place in the world and link it up properly. That, for me, is globalisation."
...and more are on his radar: "Brazil, Australia, Bangladesh are countries where steel can be made cheaply because of the availability of iron ore and coal. We have been to Iran, Ukraine, Bangladesh - all during the last year. And we are looking at China for finishing capabilities."
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