PTI quoted TATA Steel as saying that its 6 million tonne Odisha steel project is on track and the Phase I of project is expected to commission by January to March quarter of 2014 to 2015.

Mr TV Narendran MD of TATA Steel India said that "The work is progressing well. We are on schedule with the construction work at the plant. We should start production by the Q4 (January to March) of the current fiscal."

The plant, situated at Kalinganagar, is divided into two units of 3 million tonnes each and will produce flat steel products for the automobile industry.

Mr Narendran remains optimistic but steel demand was linked to GDP growth. Declining to specify any details he expects steel prices to remain firm.