Tata Steel is uneasy of media reports over UK investment plans
ECONOMY & POLICY

Tata Steel is uneasy of media reports over UK investment plans

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.

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.

Next Story
Infrastructure Energy

New Push to Cut India’s Air Pollution through Power Sector Reforms

In a significant stride toward environmental sustainability, Cummins India introduced CPCB IV+ compliant gensets to India on July 5, 2023, marking a paradigm shift in the power generation industry. These generators are engineered to adhere to the progressive emission norms set by the Ministry of Environment, Forest, and Climate Change. Being the first sets in the field, they have garnered praise for their remarkable achievements in emissions reduction and cutting-edge technology. Powerica, with its four-decade-long partnership with Cummins India Limited, is dedicated to consistently deliver th..

Next Story
Infrastructure Transport

Saarstahl Rail to Supply Tracks for Bengaluru Suburban Rail Project

Rail Infrastructure Development Company Karnataka Limited (K-RIDE) has identified Saarstahl Rail as the lowest bidder for the track supply contract in the Bangalore Suburban Railway Project. The selected contractor will be responsible for supplying 60E1 (UIC 60), 1080 HH Grade rails in accordance with IRS-T-12-2009 standards (including all amendments and correction slips) for two specific sections: Corridor 2, from Baiyappanahalli to Chikkabanavara, and Corridor 4, between Heelalige and Rajankunte.The tender for this supply contract, which includes a completion deadline of 365 days, was issued..

Next Story
Infrastructure Transport

Railways Unveils Major Reforms to Improve Train Controller System

In a major initiative to enhance railway safety and efficiency, the Ministry of Railways has introduced a series of reforms aimed at improving the functioning and working conditions of train controllers. The measures focus on strengthening domain expertise, ensuring performance accountability, and addressing the high-stress nature of the job.Under the new guidelines, train controllers will be required to serve a minimum of three years in the control office to build sufficient operational knowledge. Only experienced and high-performing traffic inspectors and station masters with strong service ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?