Tata Steel to acquire 50% stake in pellet-maker Thriveni for Rs 636 crore
MUMBAI: Tata Steel will acquire just over 50% stake in Thriveni Pellets for Rs 636 crore as part of its expansion strategy. Thriveni Pellets operates a 4-million-ton pellet plant in Jajpur, Odisha, and a 212km slurry pipeline. The remaining 49.99% stake is held by BSE-listed Lloyds Metals & Energy. Iron ore pellets are a key input for blast furnaces, while slurry pipelines help transport raw materials such as iron ore. In FY25, Thriveni Pellets reported a profit of Rs 45 crore on revenue of Rs 2,479 crore. The acquisition will secure a pellet-making facility for Tata Steel in India. Tata Steel has also signed a separate agreement with Lloyds Metals. As part of this partnership, the two companies will explore setting up a 6-million-ton steel plant in Gadchiroli.
