Tata's acquisitions not satiated: Irani

New Delhi: A top Tata group official on Tuesday said that Tata Group's appetite for foreign acquisitions is not satiated.

"Our appetite for foreign acquisitions is not satiated. Besides, we also have the appetite to grow in India," PTI quoted Tata Sons' Director, J J Irani as saying.

The Tatas have been acquiring on an average one foreign company per year in the period between 1991 to 2003, which increased to five in 2004.

"In 2005, our acquisitions touched double-digits and in 2006, the number reached 20," he said.

While not dwelling too much on the Tata-Corus deal, Irani told PTI that it would be the endeavour of Tata Steel to see that "the efficiencies of Tata Steel flow into Corus".

He also pointed out that the Tata Group tried its best not to disturb the culture of the companies it accquired.

Pointing out that Tata Steel was now one of the lowest cost producers of steel, Irani told PTI, "We achieved this objective in just six years (between 1999-2000). Today, we are amongst the five lowest cost producers of steel in the world."

Incidentally, CSN, which was locked in battle with the Indian group for acquiring the Anglo-Dutch steelmaker Corus, also finds a place in this list.

He also added that the acquistion of Corus did not in any way mean that the company's Indian projects would be put on hold, saying that Tata was in process of talks with the Jharkhand government and that its Jamshedpur and Orissa plants were "underway".

(With inputs from PTI)