TATA STEEL WEIGHS FOREIGN BUYOUTS 

Jamshedpur, July 11 :     Tata Steel is exploring possibilities for investment outside India. Talking to reporters here, managing director Jamshed J. Irani said the company had decided to opt for acquisitions both in the steel and non-steel sectors. He said Tata Steel has as many as 10 different alternatives for fresh investment and acquisitions, both in India and abroad. 'At present, there are at least ten different alternatives and we are looking at the most profitable one,' he said, hinting that one of the offers came from Thailand. 'In India, talks are on with the Salem Steel Plant. However, our officials are also negotiating with two to three companies in Thailand,' said Irani. Among other plans of the steel major is investment in titanium mining in the country. 'We have sanctioned crores of rupees for survey work. Senior officials of the company are looking at titanium deposits in Tamil Nadu, Andhra Pradesh and Kerala. Once we are sure of the percentage of deposits, we will begin talks with the concerned state government for lease,' he added. At an earlier function in the morning, Tata Steel's Works Division was awarded the ISO-14001 EMS certification. With this, the company becomes the first steel plant in India to bag this environment-friendly certification. It now joins the 'green club' by committing itself to follow the global environment management practices. The EMS, designed as per the requirements of ISO 14001 standards, provides Tata Steel a systematic approach for identifying the impact of its operations on the environment, enabling it to review its business strategies accordingly. In addition to the Works Division, Tata Steel's Sukinda Ferro Alloys and Minerals Division, Noamundi and Joda Mines Division, Collieries Division at West Bokaro also received the ISO-14001 certificate. Meanwhile, Irani has been invited to head the state's Industrial Commission. 'I have agreed to head the commission. We have also suggested a list of names to be included in the commission, but are awaiting a final notification from the Bihar government in this regard.' Members of the proposed commission will suggest measures to boost industrialisation in the state. However, the commission will not be vested with any executive powers. He added that Tata Steel has agreed to repair the dilapidated bridge over the Kharkai river here at a cost of Rs 2.5 crore and work would start as soon as the government gave the nod. Further, he said the company also decided to repair the roads and the overhead bridge of Tatanagar railway station, on the condition that the railways should bear 50 per cent of the total expenditure. Irani said the company also planned to outsource the Tata Main Hospital to hospitals like Apollo or Manipal for off loading the burden. He clarified that the hospital would not be sold out, but it would be given to other hospitals on a contract basis.