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 plans ₹11,500 cr global cost cuts.
Focus on operational, fixed cost savings.
Supports green steel, expansion goals.
Tata Steel has announced plans to implement cost-saving measures amounting to ₹11,500 crore (approximately $1.3 billion) across its global operations over the next 12 to 18 months. This initiative focuses on reducing controllable expenses to enhance profitability and efficiency.
Executive Director and CFO Koushik Chatterjee detailed the company's cost transformation program during a recent analyst call. The strategy includes operational efficiencies, supply chain optimization, and fixed cost reductions in India, the UK, and the Netherlands.
In India, Tata Steel aims to achieve savings of ₹4,000 crore by improving key performance indicators, enhancing employee productivity, and investing in projects with low payback periods. The company also plans to optimize conversion costs by ₹1,000–1,200 per tonne.
In the UK, the company intends to reduce fixed costs by 29% year-on-year, amounting to approximately £220 million. This will be achieved through measures such as optimizing substrate costs, upgrading IT infrastructure, and rationalizing downstream operations.
Tata Steel's operations in the Netherlands are also undergoing transformation to increase production efficiency and reduce fixed costs. The company is engaging with Dutch trade unions and the government to support these initiatives, particularly in the context of decarbonization efforts.
Also Read : Italy’s Steel Industry Sees Positive Growth with 2.7% Increase in January NMDC Announces Second Price Hike of 2025 for Iron Ore
According to TV Narendran, chief executive officer, Tata Steel's decision to close its blast furnace...
Large Corporate 27-Jan-2024
According to industry data, foreign automakers that have been losing market share to domestic compet...
China 22-Jan-2024
Oversupply weighing on near-term prices of copper on the London Metal Exchange (LME) has created rec...
China 10-Jan-2024
· China plans steel output cuts to reduce overcapacity, stabilize prices, and support i...
China 05-Mar-2025
THDC India Ltd (THDCIL) India Ltd plans to open its coal-fired power plant in September 2024, markin...
Renewables 22-Apr-2024
Amid speculation that Elon Musk will visit Gujarat, a senior government official on Wednesday said t...
Large Corporate 10-Jan-2024