Tata Steel is increasing its control over key logistics assets, announcing the acquisition of an additional 23% stake in its joint venture, TM International Logistics (TMILL), for ₹335 crore.

This strategic move raises Tata Steel's total ownership in TMILL to 74%, transforming it into a subsidiary.

TMILL specializes in material transportation and port operations.

The rationale behind this acquisition is to simplify governance and achieve closer integration of TMILL with Tata Steel, enhancing operational efficiency and strengthening its supply chain.

This deal is set to bolster Tata Steel's logistics capabilities.