Tata Iron and Steel Company (TISCO) embarked on modernization efforts in the early 1980s to become more cost effective and competitive in the global steel industry. By mid-1990s, TISCO had become India's most cost-effective steel plant through cost-cutting measures and good management. It invested over $60 billion on four phases of modernization by early 2000 to upgrade its steelmaking process and address weaknesses. TISCO offered a wide range of steel products and became Asia's first and India's largest integrated steel producer in the private sector.
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Tata Iron and Steel Company (TISCO) embarked on modernization efforts in the early 1980s to become more cost effective and competitive in the global steel industry. By mid-1990s, TISCO had become India's most cost-effective steel plant through cost-cutting measures and good management. It invested over $60 billion on four phases of modernization by early 2000 to upgrade its steelmaking process and address weaknesses. TISCO offered a wide range of steel products and became Asia's first and India's largest integrated steel producer in the private sector.
Tata Iron and Steel Company (TISCO) embarked on modernization efforts in the early 1980s to become more cost effective and competitive in the global steel industry. By mid-1990s, TISCO had become India's most cost-effective steel plant through cost-cutting measures and good management. It invested over $60 billion on four phases of modernization by early 2000 to upgrade its steelmaking process and address weaknesses. TISCO offered a wide range of steel products and became Asia's first and India's largest integrated steel producer in the private sector.
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Tata Iron and Steel Company (TISCO) embarked on modernization efforts in the early 1980s to become more cost effective and competitive in the global steel industry. By mid-1990s, TISCO had become India's most cost-effective steel plant through cost-cutting measures and good management. It invested over $60 billion on four phases of modernization by early 2000 to upgrade its steelmaking process and address weaknesses. TISCO offered a wide range of steel products and became Asia's first and India's largest integrated steel producer in the private sector.
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TISCO: The World's Most Cost Effective Steel Plant
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"With cost-cutting measures and good management, a company like TISCO Case may be the last one standing." Case
Code Length : : 1980
: 12 -
OPER011 Pages 2002 TISCO : : 2002 Available India Steel
- Rajeev Das, Analyst, Paribas Asia Equity.
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"It is our endeavor to reduce the cost of saleable steel by 2.5 - 3 per cent every year." "We realize that however efficient we become, the steel industry is not likely to return the cost of capital. This is no fault of ours, but due to the structure of the global and Indian steel industry." - B. Muthuraman, Managing Director, TISCO.
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Tata Iron and Steel Company (TISCO) was established in 1907 by J N Tata1 at Jamshedpur in Bihar, India. TISCO offered a wide range of products (See Exhibit I) and services including Hot rolled/Cold rolled (HR/CR) coils2 and sheets, tubes, construction bars, forging quality steel, rods, structurals, strips and bearings. It also manufactured material handling equipment, ferro alloys and other minerals, software for process controls, and offered cargohandling services. In the early 1980s, TISCO initiated a modernization program of its steel plant (See Exhibit II). Explaining
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the need of modernization, J J Irani, the then managing director of TISCO said, "We would have been finished otherwise.... you cannot fight a modern-day war with weapons of the Mahabharata. We would have been annihilated had we not modernized. We realized this and embarked on the four phases of modernization. We addressed our drawbacks like the steel making process, our weakest link."
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By mid-1990s, TISCO had become India's most costeffective steel plant. It also became Asia's first and India's largest, integrated steel producer (ISP)3in the private sector. By 2000, eight divisions of Tata Steel were ISO-140014certified, including Noamundi Iron Operations, West Bokaro Collieries, Ferro Alloy Plant, Joda, Sukinda Chromite Mines, Joda East Iron Mines, Tubes Division, and Growth Shop & Steel Works. By early 2000, TISCO had completed four phases of the modernization programme with an investment of about Rs 60 billion5. The company had invested Rs 4 billion on consultancy fees during 1990 to 2000. The fifth phase of the program had commenced in April 2000 (See Exhibit III). TISCO: The World's Most Cost Effective Steel Plan
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