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Don't see change in UK strategy: Tata Steel Chairman N Chandrasekaran

Business Standard LogoBusiness Standard1d ago

Don't see change in UK strategy: Tata Steel Chairman N Chandrasekaran - Business Standard

Quick Summary:

The proposal, which included a £500 million grant from the UK government, was to transition from an emission-intensive blast furnace to green steelmaking through the electric arc furnace (EAF) route.

However, Chandrasekaran said that this would be replaced with equivalent capacity in EAF with an overall investment of £1.25 billion over the next three years, including the support secured from the UK government.

Earlier this month, Tata Steel shut down one of the two blast furnaces at Port Talbot in South Wales to stem losses of £1 million a day.


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Category: BusinessFinance

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Article Type: News Report

Published On: 2024-07-15 @ 19:55:21 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 722 words

Reading Time: 5 minutes read

Sentences: 31 lines

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Copyright Owner: © Business Standard

News ID: 21629881

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