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Friday, March 12, 2010

Tata Steel sees India volumes up 20% in Q4

Tata Steel Ltd said on Thursday it expects sales volumes in india in the current quarter to be 20% higher than a year ago.

Vice Chairman B. Muthuraman also said steel volumes in Europe, where India-based Tata owns steelmaker Corus, should increase by 7% to 8% as demand there improves.

"In India, market demand is quite robust and we expect steel demand to be higher this year (2009/10) than for 2008/09," Muthuraman told the Reuters Global Mining and Steel Summit in a video conference from Washington, DC

Asked about sales volumes in Tata's current fiscal fourth quarter ending March 31, the executive said India's sales volumes were expected to be 20% higher, while Europe's were seen rising 7% to 8% over the same quarter a year ago.

"In India, the auto industry is doing very well and construction is even better," he said, noting the number of infrastructure projects such as bridges and roads that require steel.

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