Tata Steel to Invest $2.1 Billion in Singapore Arm

31 May 2024 CW Team

Tata Steel announced plans to invest $2.1 billion in its Singapore subsidiary, T Steel Holdings, to repay offshore debt and restructure its loss-making UK operations. The infusion aims to support the subsidiary, which reported a loss of Rs 43.67 billion in FY23.

The company will also convert $565 million of debt instruments in its Singapore unit into equity shares, with both actions set for completion within this fiscal year.

Tata Steel owns T Steel Holdings, which manages its international steel assets, including the UK plant. Additionally, Tata Steel plans to raise Rs 30 billion through non-convertible debentures (NCDs).

As part of its UK strategy, Tata Steel will invest ?1.25 billion ($1.6 billion) in a new electric arc furnace (EAF) at its Port Talbot plant, resulting in the shutdown of two blast furnaces and 2,800 job losses by September. The EAF project, expected to be completed by 2027, involves significant support measures for affected employees and a government grant.

?We will proceed with the proposal to shut down heavy end assets this year and set up the EAF by 2027,? the management stated. The company has placed equipment orders and secured a high-voltage connection with UK National Grid, ensuring timely implementation.

This significant investment reflects Tata Steel?s commitment to modernizing its operations and addressing financial challenges in its international ventures.

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..