Tata Steel Uk

Tata Steel Q2 preview: Steel giant may post net loss of up to Rs 153 crore

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

Tata Steel UK inks contract for electric furnace in green steelmaking drive

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

Tata Steel, Tenova partner for electric arc furnace at Port Talbot plant

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 ends 'legacy steelmaking' at Britain's largest steelworks

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

UK govt can reclaim GBP 500 mn funding if Tata Steel fails on commitments

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

Tata Steel signs GBP 500 mn grant funding pact with UK govt; stock up 3%

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. =

UK clears decks for GBP 500 mn grant for Tata Steel's Port Talbot project

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

UK gets improved terms for 2,500 workers as it recommits to Tata Steel deal

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

Not much scope for unlocking value if too many taxes added: Tata Steel CEO

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

New UK govt pushes Tata Steel to protect local jobs before approving grant

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

Don't see change in UK strategy: Tata Steel Chairman N Chandrasekaran

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

Tata Steel shuts 1 of its 2 blast furnaces at Port Talbot in South Wales

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

UK trade union Unite suspends strike action at Tata Steel's Port Talbot

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

Decarbonisation strategy: Tata Steel, Dutch govt may finalise deal by FY25

Decarbonisation at Ijmuiden plant will be in two phases, with one blast furnace to be replaced before 2030

1.5K Tata Steel staff in Britain to start indefinite strike from July 8

Unite pointed out that Labour has pledged 3 billion pound for UK steel if elected next month, a commitment secured by the trade union

Tata Steel in talks with Dutch govt on proposed decarbonisation roadmap

Tata Steel on Thursday said it is in talks with the Dutch government on a proposed decarbonisation roadmap for the company's factory in the Netherlands. The company's statement came after reports said that the Netherlands may provide as much as 3 billion euro (3.26 billion dollar) for the green transformation of the steel major's IJmuiden factory, which has caused serious health and environmental problems in the adjoining area. "...the company is in discussions with the Dutch Government on the proposed decarbonization roadmap," Tata Steel said in a stock exchange filing. The Dutch Parliament had in March formally gave a mandate to the government to negotiate the terms of potential support towards a proposal for decarbonisation in Tata Steel Nederland. Eventually, the Dutch government has formulated a detailed framework of diligence, analysis, discussions and negotiations with the steel major, which will run over several months before potentially culminating in an agreed set of ...

Tata Steel credit metrics to improve in FY25 on high demand: CreditSights

Ratings firm CreditSights on Monday said it expects the credit metrics of Tata Steel to improve in the ongoing fiscal aided by factors like infrastructure-led domestic steel demand and lower coking coal prices. Tata Steel last week reported a 64.59 per cent decline in consolidated net profit at Rs 554.56 crore for the March quarter from Rs 1,566.24 crore in the year-ago period, mainly on account of lower realisations and expenses on certain exceptional items. In a report, CreditSights -- a FitchSolutions company -- said it expects Tata Steel's credit metrics to improve meaningfully in FY25, with net leverage projected to improve, driven by robust EBITDA growth and lower capex. "We expect total FY25 EBITDA to grow robustly year-on-year in the mid 20 per cent range, supported by robust infrastructure-led domestic steel demand, very slight recovery in steel price realizations aided by robust domestic demand...lower coking coal input costs that could offset higher iron ore input costs,"

2,500 job cuts inevitable in Tata Steel's UK operations: CEO Narendran

Loss of jobs for around 2,500 workers at Tata Steel's operations in the UK, which are in a transition phase, is "inevitable", the company's CEO T V Narendran said. Fear of job losses has attracted criticism of the workers' unions and they are continuously protesting against the company in the UK. India-based Tata Steel owns the UK's largest steelworks of 3 million tonne per annum (MTPA) at Port Talbot in South Wales and employs around 8,000 people across all its operations in that country. As part of its decarbonisation plan, the company is shifting to low-emission electric arc furnace (EAF) process from the blast furnace (BF) route which is nearing its end of life cycle. Speaking to PTI, Narendran said the transition to EAF with the UK government aid will make the company competitive in terms of reduced production cost, and also help in reduction of 5 million tonnes of Co2 per year. "But all this involves 2,500 job losses and that is what the unions obviously are not happy with.

Tata Steel CEO Narendran says want to move fast on UK decarbonisation

Chinese exports of steel into India were a 'growing concern,' Narendran said, as India turned net importer in the fiscal year that ended in March

Tata Steel to invest £1.25 billion in electric arc furnace in Port Talbot

The decision follows seven months of formal and informal national-level discussions with the UK Steel Committee (the multi-union forum) and its advisers, the company said