Tata Steel expresses concern over media reports regarding investment plans

13 Jun 2024 CW Team

Tata Steel has voiced concerns over claims in the British media that the ?1.25 billion investment in the Port Talbot facility might be affected due to policy disagreements between the opposition and the UK government. Tata Steel and the UK government reached an agreement in September 2023 to jointly invest 1.25 billion pounds to carry out decarbonisation initiatives at the British steel plant in Port Talbot. The UK government would contribute ?500 of the ?1.25 billion. "We are apprehensive reading UK media reports suggesting that the ?1.25 billion investment, the largest in many decades in British steelmaking, may be put in peril due to policy differences expressed by the Conservative and Labour parties during the ongoing election period," the business stated in a statement. In the upcoming months, Tata Steel stated that it will carry out the planned shutdown of the heavy-end assets and the Port Talbot reorganisation project. Tata Steel, a division of the Tata Group in India, and the UK government have been working hard over the past three years to create a sustainable future for the Port Talbot facility and Tata Steel UK. Tata Steel employs over 8,000 people in all of its activities in South Wales, where it controls the biggest steelworks in the UK, with a 3 million tonne per annum (MTPA) capacity. The firm is transitioning from the blast furnace (BF) route, which is approaching the end of its life cycle, to the low-emission electric arc furnace (EAF) method as part of its decarbonisation plan. Tata Steel's objective is to complete the decarbonisation journey at its plant in the UK in the next three years.

Real Estate

26 Jun 2026

AGM Vijaylaxmi launches Sixty3 W.E. Bizpark

AGM Vijaylaxmi Group has launched Sixty3 W.E. Bizpark, a mixed-use commercial development in Goregaon East, Mumbai. The project includes contemporary office spaces and a high-street retail component designed to support businesses, retailers and professionals.Located along the Western Express Highway, Sixty3 W.E. Bizpark is planned as a G+25-storey commercial tower. It offers office spaces ranging from 545 sq ft to 3,200 sq ft, with a 3.60 metre floor-to-floor height aimed at improving spatial comfort, natural light and operational efficiency.The project features a high-street retail boulevard ..

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..