+
Tata Steel talks decarbonisation plans with Dutch Govt
ECONOMY & POLICY

Tata Steel talks decarbonisation plans with Dutch Govt

Tata Steel has announced on-going discussions with the Dutch government regarding a plan to reduce carbon emissions from its plant in the Netherlands. This follows a directive from the Dutch Parliament for the government to negotiate support terms.

The Dutch government is reportedly considering funding up to Rs.3 billion to facilitate the green transition of Tata Steel?s IJmuiden plant, which has faced health and pollution concerns.

Tata Steel confirmed these talks in a filing to the Indian stock exchange. In March, the Dutch Parliament urged the government to negotiate the decarbonisation support terms for Tata Steel Nederland. The negotiation process, requiring thorough investigation, evaluation, and discussions, is expected to take several months. Any final agreement will need approval from both the Dutch Parliament and Tata Steel's board.

Tata Steel stated that it is not ready to draw any conclusions and declined to provide further comments. In October 2021, Tata Steel reorganised, decentralising its UK and Netherlands businesses into separate entities. The IJmuiden plant, with a capacity of seven million tonnes per annum, is one of the largest in the world. Tata Steel aims to completely eradicate CO2 emissions from its European operations by 2050 and has a strategic partnership with the Dutch government to meet emissions and health requirements for the decarbonisation project.

(Source: Manufacturing Today India)

Tata Steel has announced on-going discussions with the Dutch government regarding a plan to reduce carbon emissions from its plant in the Netherlands. This follows a directive from the Dutch Parliament for the government to negotiate support terms. The Dutch government is reportedly considering funding up to Rs.3 billion to facilitate the green transition of Tata Steel?s IJmuiden plant, which has faced health and pollution concerns. Tata Steel confirmed these talks in a filing to the Indian stock exchange. In March, the Dutch Parliament urged the government to negotiate the decarbonisation support terms for Tata Steel Nederland. The negotiation process, requiring thorough investigation, evaluation, and discussions, is expected to take several months. Any final agreement will need approval from both the Dutch Parliament and Tata Steel's board. Tata Steel stated that it is not ready to draw any conclusions and declined to provide further comments. In October 2021, Tata Steel reorganised, decentralising its UK and Netherlands businesses into separate entities. The IJmuiden plant, with a capacity of seven million tonnes per annum, is one of the largest in the world. Tata Steel aims to completely eradicate CO2 emissions from its European operations by 2050 and has a strategic partnership with the Dutch government to meet emissions and health requirements for the decarbonisation project. (Source: Manufacturing Today India)

Next Story
Infrastructure Urban

Budget Proposal Aims to Boost Investments

The recent budget proposal has introduced measures designed to promote investments and generate job opportunities across various industries, as reported by the Economic Times. This initiative seeks to stimulate economic activity and strengthen the country's growth trajectory by encouraging both domestic and foreign investments. Key aspects of the proposal include targeted incentives for sectors poised for expansion, such as renewable energy, infrastructure, and technology. The government aims to create a more favorable investment climate by offering tax benefits, subsidies, and streamlined reg..

Next Story
Infrastructure Urban

DGTR Proposes Anti-Dumping Duty on Aluminium

The Directorate General of Trade Remedies (DGTR) has proposed imposing an anti-dumping duty of up to Rs.577 per tonne on aluminium frames imported from China, as reported by the Economic Times. This move aims to address concerns about unfair trade practices and protect the domestic aluminium industry from the adverse effects of low-cost imports. The proposed anti-dumping duty comes in response to allegations that Chinese aluminium frames are being sold in the Indian market at prices below fair market value. Such practices are deemed harmful to domestic manufacturers, potentially leading to ma..

Next Story
Infrastructure Urban

Indian Financial System Resilient Amidst Challenges

The Reserve Bank of India (RBI) Deputy Governor M. Rajeshwar Rao has emphasized the robust nature of the Indian financial system despite global economic headwinds, according to Economic Times. Rao?s comments reflect confidence in the stability and resilience of India's financial sector amidst a backdrop of international economic uncertainties and financial volatility. Rao highlighted that India?s financial system is well-equipped to handle external shocks due to its solid regulatory framework and prudent risk management practices. The country?s banking sector has demonstrated resilience throug..

Talk to us?