Tata Steel UK

Hollywood actor Michael Sheen started a debt acquisition company to help 900 people with his own money after Tata Steel's plant in South Wales halted operations of the blast furnace, causing job loss

The industry is waiting for an action from the government to check steel imports, which are affecting the domestic players, Tata Steel CEO T V Narendran said on Friday. He also warned future investments in the steel sector getting impacted due to present situation of surging imports. The steel industry has been one of the biggest private sector investors over the last few years. All players in the industry have announced big expansion plans. One round of expansion is getting completed, he told PTI on the sidelines of 69th Foundation Day of All India Management Association (AIMA) in the national capital. A lot of steel which can't find other markets end up in India and depress prices here to levels at which the steel company struggle to have healthy cash flows, Narendran, who is also the Senior Vice President of AIMA, said. At some point in time, future investments can't get impacted, he said. The comments assume significance as India aims to take its overall installed steel ...

Tata Steel shares rose after it announced that the Neath Port Talbot Council's Planning Committee has approved its proposal for state-of-the-art Electric Arc Furnace steelmaking at Port Talbot

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"This £1.25 billion investment is the most significant made in the UK steel industry in decades"

Despite near-term challenges such as high imports and lower realisations, the long-term outlook for Tata Steel remains positive, analsyts at Motilal Oswal said

On the bourses, Tata Steel shares closed 0.38 per cent lower at Rs 130. In comparison, BSE Sensex settled 0.43 per cent lower at 76,190.46 levels, on Friday, January 24, 2025

Domestic brokerages anticipate a challenging quarter for Tata Steel marked by lower steel realisations and regional pricing pressures

Tata Steel said it has signed a contract with an Italy-headquartered metals technology multinational to deliver a state-of-the-art electric arc furnace (EAF) as part of its green steelmaking drive in the UK. The Indian steel major's pact last week with Tenova for its Port Talbot site in Wales, the UK's largest steelworks, has been described as a significant milestone on the road to reducing carbon emissions by 90 per cent a year once it is commissioned from the end of 2027. Under the agreement, Tenova is to supply an EAF with an annual capacity of 3 million tonnes of steel similar to the output of the site's blast furnaces decommissioned recently by melting scrap steel sourced from the UK. "This partnership follows in the footsteps of an improved deal between the government and Tata Steel, and is further proof of our commitment to a bright future for UK steelmaking," said UK Business and Trade Secretary Jonathan Reynolds. "Technology like the furnaces made by Tenova is critical t

The plan was for the Tata Steel-owned site to be subject to a three to four-year-long decarbonisation plan to build an electric arc furnace which will make steel from scrap

Tata Steel-owned Port Talbot plant in South Wales hit a significant milestone on Monday when its Blast Furnace 4 ceased operations after over 100 years, marking an end of "legacy" steelmaking as the UK's largest steelworks transitions towards greener steelmaking. Steelmaking at the site is now set to resume in 2027-2028 as part of a British government-backed investment programme of around GBP 1.25 billion in Electric Arc Furnace-based steelmaking, using UK-sourced scrap steel. The Mumbai-headquartered steel giant said it is looking ahead to a brighter, greener future for the historic site and sustaining more than 5,000 jobs. "I am deeply conscious how difficult today is for everyone associated with our business. Throughout this transition, we are doing everything possible to minimise the impact on all those who are affected by the changes we are making, Rajesh Nair, CEO of Tata Steel UK, said in a statement. Today marks a significant event in the history of iron and steelmaking in

Tata Steel signed a GBP 500 million grant funding pact with the UK government to advance the installation of a low-carbon electric arc furnace at Port Talbot

The upward move in Tata Steel shares came after the company signed a £500 million grant funding pact with the UK government for a £1.25 billion green steel project in Port Talbot. =

This is part of the 1.25 billion pound green steel project in Port Talbot, of which Tata Steel's investment is to the tune of 750 million pounds

Tata said in January that up to 2,800 jobs were at risk from closure of its two blast furnaces at Port Talbot, with about 2,500 job losses likely next year after 2023 govt-backed plan to shut them

Narendran discusses issues from the UK strategy to the potential impact of the recent Supreme Court ruling on mineral tax

The new UK Labour government insists on job protection at Tata Steel's Port Talbot plant as a condition for approving a £500 million support package for the company's low-carbon transition project

The transition from blast furnace to EAF technology puts 2,800 jobs at risk and the Labour government has been engaging in discussions to try and save jobs, according to reports in the UK

The decommissioning of blast furnace number 5 was in sync with the timeline indicated by the company earlier

Unite general secretary Sharon Graham termed it as a 'significant' development in the battle to protect jobs and the long-term future of steelmaking in South Wales