DDN Correspondent

Tata Steel has announced that it is expecting a 15% growth in its sales in the current fiscal compared to last year.

"Tata Steel has just implemented its 10 million tonne project in Jamshedpur that is in full swing. So I do see our sales to be up compared to last year by 15 percent," Tata Steel Vice Chairman B Muthuraman told reporters on the sidelines of CII (Chamber of Indian Industry) National Council Meeting in New Delhi.

Muthuraman told reporters that the company will implement its Orissa project, which will be commissioned in 2014. "This project will be of three million tonne capacity. Second phase will be another three million tonne and will get over in another two to three years," he added.

Muthuraman said: "Tata Steel has requested the Karnataka Government to start allotting fresh leases of iron-ore mines, especially for those who want to value add to the iron-ore by making steel, this will also provide employment opportunity to people."

Referring to the business environment in India, the senior Tata Steel executive remarked that "it is difficult."