India's Tata Steel has invested 270 billion rupees ($3.23 billion) to expand crude steel capacity at its facility in the eastern Indian state of Odisha, the company said on Friday. ($1 = 83.5200 Indian rupees) (This story has been corrected to fix an error in the headline and paragraph 1,

The Phase II expansion of the facility, which commenced commercial production in May 2016 is supported by a ₹27,000 crore investment, the steelmaker said in an exchange filing.

The new blast furnace, with a volume of 5,870 m3, is equipped with state-of-the-art features for long campaign life and an eco-friendly design to optimise the steelmaking process. The blast furnace will also have a zero-process water discharge plan with rainwater harvesting.

Prime Minister Narendra Modi has been pushing for India to rival global semiconductor powerhouses such as Taiwan.

Tata Electronics has entered into a strategic alliance with Analog Devices Inc. (ADI), a semiconductor company, to explore semiconductor manufacturing opportunities in India.

Tata Group and Analog Devices have announced a strategic alliance. The partnership aims to explore potential joint opportunities in the semiconductor ecosystem in India. What Happened: The Tata Group and Nasdaq-listed Analog Devices made the announcement on Wednesday.