Will come to a decision on UK biz in 12 to 24 months: Tata Steel MD & CEO

'We have planned a capex of Rs 16,000 crore. Of this, roughly, Rs 4,000 crore is in Europe, with the Netherlands accounting for about Rs 3,000; the balance will be in the UK'

A day after Tata Steel, while announcing its results, flagged risks to its UK operations against the backdrop of a possible economic downturn in Europe, Tata Steel MD & CEO T V Narendran, in an interview with Ishita Ayan Dutt, says the offer from the UK government as it stands won’t justify the investment required for the impending transition to greener steel. Edited excerpts:

What prompted the stress test for European operations?

It is generally part of what the auditors do. It’s more for the UK business; they have pointed out the vulnerabilities of the business to the volatilities seen in the