Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Tata Steel is aiming to turn its UK operations profitable in the current fiscal year, according to Tata Sons Chairman N. Chandrasekaran. The strategic shift comes as part of the company’s broader restructuring and decarbonization goals.
Following the closure of high-cost blast furnaces at Port Talbot, Tata Steel UK has significantly reduced operational expenses. The unit is now focused on processing imported semi-finished steel to meet downstream demand, improving efficiency and margins.
To further this transformation, Tata Steel is investing £1.25 billion—backed by £500 million from the UK government—into a new 3.2 million tonne Electric Arc Furnace (EAF) facility, slated for completion by 2027–28. This move aligns with Tata Steel’s larger green steel initiative, which includes similar transitions at its Netherlands operations by 2030.
In parallel, the company has launched a cost optimization program targeting ₹11,500 crore in savings by FY26, with ₹3,000 crore expected from the UK alone. Capital expenditure across India, the UK, and the Netherlands is set at ₹15,000 crore for the year.
These initiatives are expected to drive stronger financial performance across revenue, EBITDA, and net profit in FY26, positioning Tata Steel for long-term sustainability and global competitiveness.
Also Read : Captive, commercial mines set to make coal cheaper for industries: Coal Secretary Greenland Grants Permit for Key Metal Critical to Defense-Grade Steel
The Union Ministry of Steel had asked the Trade Ministry to investigate cheaper steel imports from C...
Announcement 01-Aug-2024
According to a senior government official, the shipping ministry intends to switch to an 80% landlor...
Logistics 20-May-2024
According to the Department of Science and Technology (DST), Ministry of Science and Technology, Gov...
Renewables 03-Jun-2024
Steel MSMEs may experience a deceleration in growth for the current financial year, according to the...
Business 23-Aug-2024
The Railways have placed an order for ₹957 crore with Jupiter Waggons Ltd, a mobility solutions prov...
Mid Corporate 13-Mar-2024
ArcelorMittal Nippon Steel, an Indian steel maker, has awarded Danieli Corus a new greenfield pellet...
Large Corporate 03-Apr-2024