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 and the Electricity System Operator of National Grid Plc have an agreement to construct the power infrastructure needed to convert the Port Talbot facility into a green steel project. As part of the agreement, the British grid operator will construct a new electrical infrastructure by the end of 2027 that will be able to run the 3.2 million-tonne electric arc furnace owned by the Indian business.
"This will help us replace our aging and carbon-intensive blast furnaces with a state-of-the-art electric arc furnace capable of producing our customers' most demanding steel products," said Rajesh Nair, chief executive of Tata Steel UK, in a website statement.
Last year, the UK agreed to pay up to £500 million ($635 million) to assist Tata Steel in refurbishing and maintaining the country's largest steelworks as part of a series of large subsidies to entice corporations to stay in the country.
In April, Tata Steel said it would proceed with its planned investment of £1.25 billion to build the electric arc furnace at Port Talbot after months of national-level discussions with the UK's trade unions, which threatened industrial action over expected job losses. While greener than coal-fired furnaces, the new process is much less labor-intensive.
Tata expected 2,500 roles to be impacted within the next 18 months from the move. The agreement to power the electric furnace is "another positive step towards securing the future of steelmaking in South Wales and the UK," industry minister Alan Mak said in the statement.
Also Read : Hindustan Zinc may put off demerger JSW Steel unveils indigenous coated steel to reduce India's reliance on imports
JSW Steel introduced GreenEdge, a sustainable steel brand.Assists customers in d...
Business 29-May-2025
The Union Cabinet accepted the proposal to invest ₹1.26 lakh crore in three semiconductor factories....
Press Releases 01-Mar-2024
The Andhra Pradesh government is gearing up to introduce a comprehensive action plan aimed at streng...
Announcement 01-Apr-2025
1️⃣ New rolling mill in Ludhiana to begin production by April 2025, boosting local steel capacity.2️...
Business 28-Mar-2025
In order to meet growing domestic demand, India's largest refiner, Indian Oil Corp., declared in a s...
Business 01-Apr-2024
The Technology Development Board (TDB), under the Department of Science and Technology (DST) mention...
Notification 04-Apr-2024