In a filing with the National Stock Exchange of India, the company said the project will add 5 million metric tons of annual capacity to the facility, raising it to 8 million metric tons. The expansion is expected to cost the equivalent of about US$3.7 billion and lift the company’s overall capabilities to around 18 million metric tons.

Tata said the project is expected to take four years to complete and will be financed through a combination of debt and equity.
Although the company didn’t provide many details on the project itself, it said it will entail an expansion of its raw materials capacity, upstream and midstream facilities, and a new cold rolling mill.

In a June interview with The (India) Economic Times, now-chief executive T. V. Narendran indicated that project would include upgrades to the plant’s ironmaking facilities. 

"From Tata Steel's point of view, now that Kalinganagar plant is doing well, we have the opportunity to expand," he told the newspaper at the time. "We are now looking at a bigger blast furnace."

The project is intended to help Tata meet demand for value-added steels, particularly those for the automotive and general engineering markets.