Tata Chemicals is all set to undergo a massive restructuring in FY18. CNBC-TV18 learns from sources the company will now completely shift its focus on chemicals and consumer products business.
The company plans to restructure parts of its international operations. It may exit operations in Kenya, and partly sell its volatile Europe and North American businesses.
It will exit from its fertiliser business in India and is actively scouting for investors for its Haldia plant.
The whole exercise is expected to bring down the debt of the company by 40 percent, which currently stands at around Rs 5,833 crore.